Faisalabad Electric Supply Company LTD.: Annual Adjustment/Indexation of Distribution Margin (DM) For FY 202 1-22

Faisalabad Electric Supply Company Ltd.
FESCO
Annual Adjustment/Indexation of
Distribution Margin (DM) For FY 202 1-22
&
Prior Year Adjustment (PYA) For 2020-2 1 Under Multi
Year Tariff (MYT) Regime
October 28, 2021
FESCO HEAD QUARTER

WEST CANAL ROAD, ABDULLAII PUR,
FAISALABAD
1 Table of Contents
1. Applicant 3
2. Background: 3
3. Prior Year Adjustment (PYA) For FY 2020-21 4
3.1. Excess adjustment of Interim Distribution Margin (DM): 4
3.2. Minimum Tax Paid during FY 2020-2 1: 4
3.3. Sales Mix Variance: 4
3.4. Excess Supplemental Charges of Rs.2,482 Million than LPS: 5
3.5. Supplemental Charges of Rs.187.538 Million: 5
3.6. Under-Recovered Distribution Margin (DM) for the FY 2020-21:. 6
3.7. PM Assistance Package & Package for COVID-19 Victims: 6
3.8. Actuarial Gain/Loss Charged to OCT for FY 2020-21 7
3.9. Summary of Prior Year FY 2020-21 into Distribution & Supply: 7
4. Distribution/Supply Margin (D/SM) 8
4.1 Operation & Maintenance (O&M) Cost: 8
4.2 Return on Rate Base (RORB) Adjustment: 10
4.3 Depreciation: 11
4.4 Supplier Margin / Profit 12
4.5 Other Income: 13
5. Creation of MIRAD: 13
6 Revenue Requirement: 15
7 Prayer! Request 15
Page 2 of 15
1
1. Applicant:
1.1 Faisalabad Electricity Supply Company Limited (FESCO) is an ex-WAPDA
Distribution Company (DISCO) owned by the Government of Pakistan (GOP)
and incorporated as a Public Limited Company on March 21, 1998 vide
company registration No. L09460 of 1997-98 under section 32 of the then
Companies Ordinance 1984 (now Companies Act, 2017).
1.2 Principal business of FESCO is to provide electricity to the consumers of Civil
Districts of Faisalabad, Chiniot, Jhang, Toba Tek Singh, Bhakkar, Sargodha,
Khushab and Mianwali in the province of Punjab under Distribution License
No. 02/DL/2002 granted by NEPRA (the Distribution License).
2. Background:
2.1 The Multi Year Tariff (MYT) of FESCO was determined for a control period of
fiveyears i.e from FY 2015-16 to FY 2019-20. However, due to late notification
of the said tariff on March 22, 2018, the period of MYT re-scheduled by the
Authority in its determination in the matter of request filed by FESCO
regarding adjustment in the tariff components for the FY 2016-17, annual
adjustment for the FY 2017-18 and Distribution Margin for the FY 2018-19
vide No. NEPRA/TRF-339/13632-13634 dated August 31, 2018. The re-
scheduled MYT control period is July 2018 till June 2023 as stated in Para 18.1
and 18.2 of the said determination.
2.2 FESCO filed Annual Adjustment/indexation of Distribution Margin (DM) for

FY 2020-2 1 along-with prior period adjustments vide letter vide letter No.
11656-59 dated 19.10.2020 under multiyear tariff regime as per amended
NEPRA Act 2018. Public Hearing was held on April 22, 2021. However,
determination/decision of the same is yet to be announced by NEPRA.
2.3 According to NEPRA guidelines for determination of consumer end tariff

(Methodology and Process), 2015 notified vide SRO 34(1)/2015 on
January16tl , 2015, Para 41 of the determination in the matter of FESCO's
multi-year tariff determination dated, December 31, 2015, Para 15.13 of the
FESCO's motion for leave for review dated, May 11, 2016 and Para 20 of the
re-determination in the matter of request for re-consideration filed by GoP, the
following adjustments/indexations are hereby submitted as per amended
NEPRA Act, 2018 with all supporting documents for consideration of
Authority.
2.3.1 Prior Year Adjustment (PYA) for FY 2020-21
2.3.2 Adjustment/Indexation of Distribution Margin (DM) for the
FY202 1-22
Page 3 ofl5
3. Prior Year Adjustment (PYA) For FY 2020-2 1:
3.1. Excess adjustment of Interim Distribution Margin (DM):
3.1.1 An interim Distribution Margin of Rs. 1,748 Million was allowed by NEPRA vide
decision No.NEPRA/TRF-100/DISCOs/17883-17885 dated Sep 27, 2019. The same
was notified by GoP Vide SRO No.662(1)/2019 dated Sep 30, 2019. NEPRA in its
decision No.43969-43971 dated December 08, 2020 (Para No.15.35) adjusted back the
total amount of Rs.1,748 Million provisionally allowed. Whereas, the amount of
Distribution Margin so allowed recovered by FESCO from consumers remained
Rs.1,724 Million (Annexure-A). Thus an extra amount of Rs.24 Million (difference of
amount allowed and recovered) adjusted back than the actual recovered amount as
detailed below.
(Table-0 1)
3.2. Minimum Tax Paid during FY 2020-2 1:

3.2.1 As per MYT determination dated December 31, 2015 (Para 26.21 to 26.23)FESCO has
been allowed a post-tax cost of debt and any tax paid by the company shall be passed on
to the consumers on actual basis as prior year adjustment after submission of
documentary proof to NEPRA.
3.2.2 FESCO paid minimum tax of Rs.1,950 Million for the FY 2020-21 as per detail given
hereunder.
(Table- 02) (PKR Mlii.)

• •: Date TaiPäid
IT-20200930-0101-1523131 30.09.2020 700
IT-20201231-0101-1682684 31.12.2020 350
IT-20210330-0101-1 774193 30.03.2021 400
IT-20210629-0101-165 1073 29.06.2021 500
Total 1,950
(Copies of CPRs attached as Annexure-B).
3.2.3 Authority is requested to allow an amount of Rs.1,950 Million in the Prior Year
Adjustment of FY 2020-21.
3.3. Sales Mix Variance:
3.3.1 The actual Sales Mix for FY 2020-21 at the base tariff notified vide SRO 03(I)/2019,
dated January 01, 2019 (effective from 01.07.2020 to 11.02.2021) & SRO 184(1)72021
dated February 12, 2021 (effective from 12.02.2021 onward) remained Rs.2,703 Million
(unfavorable). Working attached as (Arinexure-C).
3.3.2 Authority is requested to allow the impact of sales mix of Rs.2,703 Million in the Prior
Year Adjustment of FY 2020-21.
Page 4 of 15
T
3.4. Excess Supplemental Charges of Rs.2,482 Million than LPS:
3.4.1 Central Power Purchasing Agency Guarantee Limited (CPPA-G) billed Supplemental
Charges of Rs.4,547 Million to FESCO on account of late Payments to IPPs/Power
generators during the FY 2020-21.
3.4.2 The Late Payment Surcharge (LPS) collected by FESCO from consumers during the
said year remained Rs.2,065 Million. Thus, CPPA-G billed excess amount of Rs.2,482
Million than the LPS collected by FESCO. Month wise invoices raised by CPPA-G are
given below.
(Table-03)
1 LPS/Jul-20/FESCO Jul-20 613

2 LPS/Aug-20/FESCO Aug-20 220
3 LPS/Sep-20/FESCO Sep-20 373
4 LPS/Ot-207FESCO - Oct-20 62
5 LPS/Nov-20/FESCO Nov-20 277
6 LPS/Dec-20/FESCO Dec-20 466
7 LPS/JAN-21/FESCO Jan-20 274
8 LPS/Feb-21/FESCO Feb-20 426
9 LPS/Mar-21/FESCO March-20 176
10 LPS/Apr-21/FESCO April-20 239
11 LPS/May-21/FESCO May-20 243
12 LPS/June-21/FESCO June-20 638
Total 4,547
Less; LPS Collected during FY 2020-21 2,065
Suppi. Charges (billed by CPPA-G) in excess of 2,482
LPS
(Copies of invoices attached as Aimexure-D)
3.4.3 The Authority is requested to allow the excess amount of Rs.2,482 Million as
Supplemental Charges in the PYA of FY 2020-21.
3.5. Supplemental Charges of Rs.187.538 Million:

3.5.1. The Economic Coordination Committee (ECC) of the Cabinet considered a
summary submitted by Ministry of Water and Power, "Summary dated 31S May,
2017 Titled "Issuance of Sovereign Guarantee by Ministry of Finance in respect of
Syndicated Term Finance Facility amounting toRs.41 Billion for the Power Sector"
(Annexure-E/ 1).
3.5.2. According to the decision of ECC, Power Holding Private Limited would be
responsible for arranging loan amounting to Rs. 41 Billion. The amount would be
utilized for the purposes of funding the repayment liabilities of the Distribution
Companies (DISCOs) through arrangement between PHPL&DISCOs.
Apportionment of this facility shall be made to the DISCOs according to their
respective liability towards power purchasers. Ministry of Finance would provide
Government guarantee for repayment of loan as well as interest of the facility of
Rs.41 Billion arranged through consortium of local banks. The serving of Markup,
principal repayments and all other amounts becoming due and payable in respect of
subject facility shall be the responsibility of the respective DISCO.
3.5.3. Accordingly, Manager Finance (B&R) CPPA-G has issued the following debit notes
amounting to Rs.187.538 Million as mark-up in respect of 41 Billion Syndicated Term
Page 5 of 15
Finance Facility, which has been booked by FESCO in the Financial Statements ended
June 30, 2021.
(Table-04)
Debit Memo No. - i- Month Rs M'Hiu -' III
2nd
PPA-42/FESCO-05(Ft& Install) July-20 5.309
PPA-133/FESCO-14 (3rd Install) Nov-20 2.270

PPA-143/FESCO-15(4th Install) Dec-20 90.958 "E/4"
PPA-334/FESCO-34(4th Install) June -21 89.001
Total 187.538
(Advices Attached E/2 to E5)
3.5.4. The Authority is requested to allow the amount of Rs.187.538 Million as Supplemental
Charges in the PYA of 2020-21.
3.6. Under-Recovered Distribution Margin (DM) for the FY 2020-21:

3.6.1 FESCO has been allowed Distribution Margin (DM) of Rs.27,452/- Million for the
FY 2019-20 which is notified by GoP w.e.f. 12.02.2020. Distribution Margin for FY
2020-2 1 is yet to be determined by Authority. The recovery of Distribution Margin at
notified rates during 2020-2 1 remained Rs.24,595 Million. Thus resulted into an
under recovery of Rs.2,857 Million( Working attached as Annexure-F).
(Table-05)
3.6.2 Authority is requested to allow the un-recovered Distribution Margin of Rs.2,857

Million in PYA 2020-2 1.
3.7. PM Assistance Package & Package for COVID-19 Victims:

3.7.1 FESCO requested an amount of Rs.418 Million on account of Prime Minister's
Assistance Package for families of employees who died during service (from the date
of its applicability from February, 2015 to December, 2019). The said amount was
included in the Prior Period Adjustments as part of Annual Adjustment/Indexation
of Distribution Margin for FY 2020-21 under Multiyear Tariff Regime, filed vide
letter No.11656-59 dated 19.10.2020. The case was explained in detail under para
3.1.8 of the said Annual Adjustment/Indexation. The package comprised upon
Rs.248 Million for Lump Sum Grant and Rs.170 Million for Marriage Grant. Public
Hearing was held on April 22, 2021. However, determination/decision of the same
is yet to be announced.
3.7.2 Certain components of the Prime Minister's Assistance Package like House Rent and
Scholarship were not claimed in the referred adjustments for FY 2020-2 1 due to non-
availability of complete information regarding families of deceased employees.
Page 6 ofl5
I
3.7.3 Furthermore BOD FESCO in its 203d/321(1 meeting held on 31.08.2020 & 205/34 r
meeting held on 29.10.2020 has adopted Assistance Package circulated by General

Manager (HR) PEPCO vide O.M. No.MDP/GMHR/DSW/4506-22 dated
30.04.2020 (Aimex-G). Under the said package, families of FESCO employees who
die due to Covid-19 while performing official duties will be allowed Rs.4 million (in
each case).
3.7.4 The updated financial impact of PM's Assistance Package adopted by FESCO
including Assistance Package for deceased victims of COVID-19 comes to Rs.592.23
Million. Detail working attached as (Annexure-H).
3.7.5 To redress the grievances of bereaved families of deceased employees, who

approaching through different channels - for payment of their entitled assistance
package including direct application to FESCO management, complaints to Wafaqi
Mohtasib, complaints at PM's Performance Delivery Unit (PMDU),FESCO vide
letter No .950/CFO/FESCO/Budget-PMAP dated 29.09.2021 also requested
NEPRA to allow an amount of Rs.592.23 Million separately before the main
decision. Response of NEPRA is awaited so far.
3.8. Actuarial Gain/Loss Charged to OCT for FY 2020-21
3.8.1 An amount of Rs. 3,510 Million on account of actuarial loss for the FY 2020-2 1
charged to Other Comprehensive Income as a result of re measurement of Post
Retirement Benefits Obligations of FESCO employees. Breakup of which is given
below.
(Table-06) PKR Million
5,960 (2,401) (49) 3,510
3.8.2 It is requested to allow the amount of Rs.3,510 Million in the PYA of FY 2020-21
3.9. Summary of Prior Year FY 2020-21 into Distribution & Supply:
3.9.1 The breakup of Prior Year Adjustment FY 2020-2 1 into Distribution and Supply of
Electric Power after taking into account the preceding pas is summarized below.
Page 7 ofl5
(Table- 07) PKR Million
Excess deduction of Interim DM 24 - 24

Minimum Tax Paid during FY 2020-21 1,950 1,950
Un-favourable Consumer Mix Variance for FY - 2,703 2,703
2020-2 1
Suppi. Charges (billed by CPPA-G) in excess of 2,482 2,482
LPS for FY 2020-2 1
Supplementary Charges paid by MOF 2020-2 1 188 188
Under-Recovered DM for the FY 2020-21 2,857 - 2,857
Actuarial Gain/Loss Charged to OCI for FY 2020- 2,597 913 3,510
21
Remaining impact of PM Assistance package & 129 45 174
Assistance Package for Covid-19 death(592-418)
TotalPYAforFY2020-21 5,607 8,281 13,888
Proj. Unit Sales (MkWh) for FY 2021-22 15,609 15,609 15,609
Rs./kWh 0.36 0.53 0.89
4. Distribution / Supply Margin (D / SM)

Summary of projected DM for the FY 202 1-22 with breakup into Distribution and
Supply of Electric Power functions is given below;
(Table-08) PKR Millions

2019-20
Thst/ Supply Margin Determined Adjusted / indexed
- / Component DoP SoP Total DoP SoP Total
Operating & Maintenance Cost 17,988 5,359 23,347 18,395 6,553 24,948
(O&M)
Return on Regulatory Asset 6,096 86 6,182 6,397 6,397
Base (RORB)
Depreciation Expense 4,117 20 4,137 5,068 5,068
Supplier's Margin - 3,134 3,134
Gross Distribution Margin 28,202 5,464 33,666 29,860 9,687 39,547
Less: Other Income (4,869) (1,345) (6,214) (2,813) (727) (3,540)
Net Distribution Margin 23,333 4,119 27,452 27,047 8,960 36,007
Unit Sold 13,735 13,735 13,735 15,609 15,609 15,609
Rs. /kWh 1.70 0.30 2.00 1.73 0.57 2.31
Note: Assumptions, not exhaustive, in support of the different components of

Distribution/Supplier Margin (D/SM) pertaining to Distribution and Supply functions are
given in the paras hereunder.
4.1 Operation & Maintenance (O&M) Cost:

4.1.1 O&M Cost of Operation Divisions, Sub Divisions, Grid System Operation (GSO)
offices is included in the Distribution function.
4.1.2 Customer Services offices including commercial directorate and MIS department
operation and maintenance (O&M) cost have been included in the Supply function.
Pay and Allowances of Meter Readers and Bill Distributors attached with the
operation Sub Divisions/distribution business are also included in the Supply
functions based on their job descriptions (JDs).
Page 8 of 15
4.1.3 The O&M cost of supervisory offices i.e. Chief Executive Officer, Chief Financial
Officer, Chief of Audit, Regional Training Centre is allocated in the ratio of
distribution and supply cost of offices mentioned above.
4.1.4 According to said MYT mechanism, the O&M cost which is part of FESCO's
Distribution Margin (DM) shall be indexed with Consumer Price Index (CPI) subject
to adjustment for efficiency gains (X factor).Accordingly, the O&M cost will be
indexed every year according to the following formula:-
O&M(Rev) =O&M(Re X [1+(tCPI - X)]
Where;
O&M(Rev) = Revised O&M expense for the Current Year
O&M(Ret) = Reference O&M expense for the Ref Year
zCPI = Change in CPI published by Pakistan Bureau of Statistic latest available on
lstJuly against the CPI as on l July of the Reference Year in terms of percentage
(%)
- X Efficiency factorkept at zero % for the first two years and then 4.9% if 30% of
CPI increase in any year is more than 4.9%. If 30% of CPI increase in any year is less
than 4.9%, then the X factor would be 30% of the increase in CPI in any year, during
the control period.
4.1.5 On the request of FESCO to allow GoP increases regarding salaries & wages for the
future period, being beyond FESCO's control, NEPRA allowed the impact of
increase in Salaries & Wages, as announced by GoP for the respective year, till the
time, FESCO remains in the Public Sector (Para 17.14 of the re-determination
dated September 18, 2017 referred).
4.1.6 Based on the above mechanism, the projected O&M Cost for the FY 2021-22 for
Distribution of Electric Power comes to Rs.18,395 Million and Supply of Electric
Power comes to Rs.6,553 Million (Total Rs.24,948 Million) as elaborated below
(Table- 09) Rs. in Million

,A1c1Iea4 .ReferenceCost2Q19-20 Adjustmen/Indq292 -22
DoP SoP Total Dist Supply Total
Salaries , wages 7,535 2,270 9,805 9,458 3,323 12,781
& other benefits
Retirement 9,044 2,332 11,376 7,628 2,680 10,308
Benefits
Repair& 482 36 518 555 31 586
Maintenance
Other O&M 927 721 1,648 1,415 497 1,912
Total 17,988 5,359 23,347 19,056 6,531 25,587
Lump Sum - - - 37 13 50
Grant
I Accommodation - - - 11 4 15
Scholarship - - - 8 3 11
Package for - - - 6 2 8
families of Covid-
19 victims
Total O&M Cost 17,988 5,359 23,347 19,118 6,553 25,671
Less: Transfer to - - - 723 723
AUC
Net Total 17,988 5,359 23,347 18,395 6,553 24,948
Working attached as (Annexure-1)
Page 9 of 15
Assumptions for Indexation:
a. Salaries wages & other benefits have been increased after adding Incremental
impact & 1O% Adhoc Allowance over reference
b. Retirement Benefits as per Actuarial Report
c. CPI Increase @ 6.3 (CPI 9% less x factor 2.7) over reference budget
d. PM Assistance Package -Estimated Average Annual Impact has been calculated
e. AUC - Actual of last Financial Year 2020-21
4.2 Return on Rate Base (RORB) Adjustment:

4.2.1. As per MYT guidelines and FESCO's determination for the FY 2015-16, the RORB
assessment will be made in accordance with the following formula/mechanism:
RORB(Rev) = RORB(Re0 RAB(Rev) / RAB e0

Where:
RORB(Rev) = Revised Return on Rate Base for the Current Year
RORB(Re Reference Return on Rate Base for the Reference Year
RAB(ReV) = Revised Rate Base for the Current Year
RAB(Ret) Reference Rate Base for the Reference Year
The adjusted RORB for the FY 2020-2 1 based on the actual investment of Rs. 7,882
Million is given below;
RORB (Adj.) RORB(Re0 *PB(Aa) / RAB(Re0
RORB (Adj.) = 6,182 * 45,069/38,138 =7,305
4.2.2. The adjusted RORB for the FY 2020-21 based on Adjusted WACC of 11.94% is as
under;
RORB (Adj.) = 7,305 *Adjusted WACC,

Adjusted WACC = 11.94%/16.21% = 0.7365
RORB (Adj.) = 7,305 * 0.7365
RORB (Adj.) = 5,382 Million
4.2.3. As per mechanism the 3-Month KIBOR is to be adjusted/indexed bi-annually in
accordance with the decision given in the tariff determination of FY 2015-16. The
7.01% cost of debt based on 3-Month KIBOR allowed by authority in the
determination of FY 2018-19 has been adjusted/replaced with 3-Month KIBOR as
on 2d July, 2021 which is 7.45%. after taking into account the said KIBOR and all
other factors kept constant the adjusted WACC will be as under;
WACC for the FY 202 1-22

The post-tax adjusted cost of debt is = 3-Months KIBOR + Spread
7•45%* + 2.75% =10.20%
WACC{kex(E/V)J + [kdx(D/V)J
Adjusted WACCz {16.67%x30%} + {10.20%x70%} = 12.14%
*Note : Rate of 3 months KIBOR is 7.45 % as on 02-07-202 1
Page 10 of 15
4.2.4. RORB For FY 2021-22 based on projected investment of Rs. 19,131 Million is as
under;
RORB(Rev) RORB(RefJAdj) * RAB(Rev) / RAB(ReD

RORB(Rev) 5,382 * 52,695/45,069 = 6,291
RORB(Rev)Ofl adjusted WACC= 6,276 * 12.14%/il .94%
=6,397 Million
4.2.5. The supporting calculations for RAB and RORB are given below.
(Table-i 0) PKR Million
Audited Adjusted
(Distribution)
Gross Fixed Assets in Operation 0p. Balance 88,541 95,656
Add: Addition/Transfer in Fixed Assets (Net) 7,115 14,777

Fixed Assets in Operation — Closing Balance 95,656 110,433
Less: Accumulated Depreciation (34,156) (37,477)
Net Fixed Assets in Operation 61,501 72,956
Add: Assets Under Construction(AUC) — Cl. Balance 17,811 22,165
Total Fixed Assets 79,312 95,121
Less: Deferred Credits 31,882 37,160
Regulatory Assets Base 47,429 57,961
Average Regulatory Assets Base (RAB) 45,069 52,695
WACC 11.94% 12.14°A
RORB = RAB * WACC 5,382 6,397
4.3 Depreciation:
4.3.1 As per MYT guidelines and FESCO's determination for the FY 2015-16,
Depreciation expense for future years will be assessed in accordance with the
following formula/mechanism:
DEP(Rev)= DEP(Ret) * GFAIO(Rev) / GFAIO(Ref)
Where:
DEP(Rev) = Revised Depreciation Expense for the Current Year
DEP(Ref) = Reference Depreciation Expense for the Reference Year
GFAIO(Rev) = Revised Gross Fixed Assets in Operation for the Current Year
GFAIO(Ref) = Reference Gross Fixed Assets in Operation for the Reference Year
4.3.2 The adjusted Depreciation Expense for the FY 2020-21 based on the actual
investment of Rs. 7,882 Million is given below;
DEP(Adj)= DEP(Ref)* GFAIO(Act/Prov)/ GFAIO(Ref)
DEP(Ref) 4,137
GFAIO(Act)= 94,468
GFAIO(Ref) 89,197
DEP(Adj)= 4137*94,468/89,197=4,382
Page 11 of 15
'4.3.3 For FY 2021-22 based on projected investment ofRs.19,l3lMillions
DEP(Rev) = DEP(Re1)* GFAIO(Rev) /GFAIO(Ref)
DEP(Rev) = 4,382 * 109,245/94,468 5,068 Million
4.3.4 The supporting calculations for Depreciation for the FY 2020-21 is as under;
(Table-il) PKP. Million
Audited Adjusted
(Distribution)
Gross Fixed Assets in Operation (GFAIO) — 88,541 95,656
Opening Balance
Add: Addition/Transfer/Deletion in Fixed 7,115 14,777
Assets (Net)
Fixed Assets in Operation — Closing Balance 95,656 110,433
Less; Value of Land 1,188 1,188
GFAIO excluding Land 94,468 109,245
Depreciation-Expense. 4,382--- 5,068
4.4 Supplier Margin / Profit:

4.4.1 Through the amended NEPRA Act, 2018, the distribution and sales of electric
power functions earlier rested with FESCO under Distribution License No.
02/DL/2002 granted by NEPRA under Section-21 of NEPRA Act 1997 have
been separated. Under the amended Act, 2018, Distribution of Electric Power has
been separated from Supply of Electric Power.
4.4.2 The Supplier Margin will cover mainly the Power Supply Business O&M Costs
and return/ profit for establishing and maintaining the supply business setup,
discharging other obligations.
4.4.3 According to Para 16(2) of the NEPRA Guidelines for determination of
consumer end tariff (Methodology and process) issued vide SRO # 34 (1)/2015,
dated 16th January, 2015, tariff should allow the licensee, a rate of return, which
promotes continued reasonable investment in equipment and facilities for
improved and efficient service.
4.4.4 It is important that returns provided to the Company commensurate with the
risks associated with the sector. The rate of return should provide for a return
which is proportionate with the prevailing cost of funds being incurred by the
Company and with the risk involved in delivering the utility services.
4.4.5 The regulator has not provided any guidelines regarding allowing Return to the
Power Supply Business.
4.4.6 In view of the above the Power Supply Margin is assumed @ 1.5% of the Power
Purchase Price (projected)to be invoiced to Power Supply Business for the FY
202 1-22.
(Table- 12)
Mli .
Energy Transfer Changes 100,995
Capacity Transfer Charges 99,750
Use of System Charges + Market Operator Fee 8,218
Total 208,963
Supplier's Profit Rate 1.50%
Supplier Profit 3,134
Page 12 of 15
4.5 Other Income:
4.5.1 As per the mechanism provided in the MYT guide lines and determination for the
FY 2015-16, the other income will be assessed in accordance with the following
formula/mechanism:
4.5.2 Other Income for the FY 2021-22 as per above mechanism is assessed as under;
OI(Rev) = 01(1) + {OI(1) — OI(o)}
Where;
OI(Rev) =Revised Other Income for the Current Year
OI(I) Actual Other Income as per latest Financial Statements.
01(0) =Actual/Assessed Other Income used in the previous year.
4.5.3 Other Income for the FY 2021-22 as per above mechanism is assessed as under;
OI(Rev) =01(1) + {OI(1) — OI(o)}
01(1) 4,877 (Actual Other Income for the FY 2020-21)
OI(Rev) 4,877 + (4,877-6,214)

OI(Rev) 4,877+(1337) = 3,540
4.5.4 Break up of Other Income for the FY 2021-22 into Distribution and Supply is as
under;
(Table-13) (PKR Million)

fleion
: : Dist Supply Total Dist Supply Total
Profit on Bank Deposits 1,066 810 1,876 838 580 1,418
Meter / Service Rent 55 55 0 35 35
Reconnection Fees 32 32 0 23 23
Gain on New Connections 650 - 650 482 0 482

Testing and Inspection - 0 0 0 0
Fees -
RecoveryofLD Charges 275 - 275 197 0 197
Service Fee 104 104 0 74 74
Other Misc. Income 106 33 139 45 16 61

Amortization of Def. 1,746 1,746 1,250 0 1,250
Credit
Total 3,843 1,034 4,877 2,812 728 3,540
5. Creation of]\'JIRAD:
5.1 Pursuant to Ministry of Energy (Power Division), Islamabad letter No.PF-
05(04)/2012 dated 01.12.2020 conveyed by Managing Director (PEPCO) vide letter
dated 09.12.2020 BOD FESCO in its 208th / 2nd Extra Ordinary General Meeting
(EOGM) held on 14.01.2021 approved the Market Implementation & Regulatory
Affairs Department (MIRAD).
5.2 This department will become a dedicated central interface between DISCOs and the
competitive electricity market equipped with staff having specialized knowledge and
competency and supported by necessary infrastructure to inter-allia administer the
Page 13 ofl5
market operations including bilateral contracts portfolio management, short and
medium-term demand forecasting, transmission planning, and overseeing legal and
regulatory affairs. MIRAD will perform the activities pertaining to Competitive
Trading Bilateral Contract Market (CTBCM).
5.3 The creation of MIRAD had been made in the backdrop of shifting the existing
Power Market from Single Buyer Model to a Competitive Wholesale Power Market
after the decision of ECC in 2015. National Electric Power Regulatory Authority
(NEPRA) also approved a detailed design and implementation plan of the
Competitive Trading Bilateral Contract Market (CTBCM) to make a competitive
wholesale electricity market in November 12, 2020.
5.4 FESCO Board of Directors (BoD) approved the following;
5.4.1 Complete structure of MIRAD already endorsed by MOE (Power Division)

and PEPCO.
5.4.2 Rcjocatiop /_transfer of existing 09positions (mentioned under Para06) to the
MIRAD. But the abilities, qualifications and suitability of these personnel will
be strictly checked and analyzed appropriately by the mechanism approved by
the BOD.
5.4.3 Creation of 11 new positions (mentioned under Para-07) under MIRAD.
5.4.4 An additional annual budget of Rs.25.447 million for the running
expenditure of newly created positions including 40% incentive and 6.654
Million for other O&M.
5.4.5 Head of MIRAD to be recruited / inducted from the Market following the
open competitive recruitment process, in which DISCOs personnel can also
apply.
5.4.6 The recruitment of the remaining staff of the MIRAD will first be done
through a recruitment process from within the DISCOs, that would result in
qualified and suitable personnel transferred to MIRAD.
5.4.7 Remaining positions of MIRAD will be recruited from Market on merit basis.
5.5 The structure of MIRAD has a total of 20 managerial positions of different cadres
ranging from BPS-20 to BPS-17. The break-up of these positions is given hereunder.
(Table-14)
Manager 19 03 7.014
c. Deputy Manager
e Other O&M 6.654
Total 32.101
Page 14 of 15
6 Revenue Requirement:
6.1 Based on the information given in the preceding paragraphs the estimated
Revenue Requirement (RR) for the FY 2021-22 on projected Sales of 15,609 M
kWh is given here under;
(Table-i 5) PKR Millions
A- Power Purchase Price

Energy Charges - 100,995 100,995
Capacity Charges - 99,750 99,750
UoSC&MOF - 8,218 8,218
Total PPP - 208,963 13.39 208,963 13.39
B- Dist./ Supply Margin
O&M Cost 18,395 6,553 24,948
RORB 6,397 - 6,397
Depreciation 5,063 - 5,068
Supplier's Profit - 3,134 3,134
Pay & Allowances & 32 32
Other O&M MIRAD
Total 29,860 1.91 9,719 0.62 39,579 2.54
C- Other Income (2,813) (0.18) (727) (0.05) (3,540) (0.23)
D- Net Dist./ Supply 27,047 1.73 8,992 0.58 36,039 2.31
Margin
E- Prior Year Adj 2020-21 5,607 0.36 8,281 0.53 13,888 0.89
F-Total(A+B+C+D+E) 32,654 2.09 226,236 14.49 258,890 16.59
7 Prayer! Request
7.1. The Authority is requested to allow the Prior Year Adjustments for the
FY 2020-2 1 along-with left over amounts pertaining to previous years and
adjustment/indexation of Distribution/Supply Margin for the FY 202 1-22.
7.2. Any other appropriate order deems fit by the honorable Authority may also be
passed.
Wits best regards
Chief xecutive Officer

FESCO, Faisalabad
Page 15 of 15
Annexure -A
Annex-A
Recoevery of Rs.1,748 Million (Annual/Interim Adjustment

of DM) Determined by Authority vide No.NEPRA/TRF-
100/DISCOs/17883-17885 dated Sep 27, 2019 & Notified
by GoP Vide SRO No.662(1)/2019 dated Sep 30, 2019
Units Sold
Amount (Rs.
without life line Rate per Unit
Million)
Month (MkWh)
Oct-19 748 0.13 97
Nov-19 896 0.13 117
Dec-19 815 - Q13 106
Jan-20 777 0.13 101
Feb-20 770 0.13 100
Mar-20 666 0.13 87
Apr-20 769 0.13 100
May-20 1,205 0.13 157
Jun-20 1,413 0.13 184
Jul-20 1,499 0.13 195
Aug-20 1,680 0.13 218
Sep-20 1,577 0.13 205
Oct-20 449 0.13 58
Total 13,265 1,724
C:\Users\Akrm\Desktop\Annexures.xIsxAnnex-A
Annexure-B
13)
INCOME TAX DEPARTMENT
COMPUTERIZED PAYMENT RECEIPT ( CPR - IT)
SBP Banking Services Corporation Alternative Delivery Channel - ADC (0101): ISLAMABAD
CPR No IT-20200930-01 01-1523131 Payment Date 30-Sep-2020

Payment Section 147 - Advance Income Tax - 9202 RTO/LTU RTO FAISALABAD
Nature of Payment Advance Income Tax Tax Period 2021
Account Head(NAM) B01105
Details of Tax Payer
NTN I CNIC 3048930-0 / 0038923 Status CO

Taxpayer/Business
Name & Address FAISALABAD ELECTRIC SUPPLY COMPANY, FINANCE DIRECTOR OFFICE ABDULLAHPUR
CANAL ROAD
axAmount 700,000,000
Amount of Tax in Words Seven Hundred Million Rupees And No Psas Only
Payment Mode Amount Date AC I Ref No Bank & Branch

ADC (e-payment) 700,000,000 30-Sep-2020
FBR ADC 0101
II II 'HI II II' II I II II II 'I II II II 1111 U Ill I Ill I' Signature & Stamp of Manager I Authorized officer
IT 20200930-0101-1523131
Document ID: 141422899 - Generation Date : 30-Sep-2020 10:55 AM - User: TP 1 of 1

TAX DEPARTMENT
ED PAYMENT RECEIPT ( CPR - IT)
Alternative Delivery Channel -ADC (0101): ISLAMABAD
101 -1682684 Payment Date : 31-Dec-2020

Tax - 9202 RTO/LTU : RTO FAISALABAD
Tax Period : 2021
Q038923 Status : CO
--..D ELECTRIC SUPPLY COMPANY FINANCE DIRECTOR OFFICE ABDULLAHPUR
Tax Amount : 350000000
ied Fifty Million Rupees And No Paisas Only
ate AC / Ref No Bank & Branch

.I -Dec-2020
FBRADC 0101
II11I I
Signature & Stamp of Manager / Authorized officer
— ration Date : 31-Dec-2020 07:04 PM - User: TP 1 of 1

SBP Banking Services Corporation Alternative Delivery Channel -ADC (0101) : ISLAMABAD
CPR No IT-20201231-01O1 -1682684 Payment Date 31 -Dec-2020

Payment Section 147 - Advance Income Tax - 9202 RTO/LTU RTO FAISALABAD
- Details of Tax Payer
NTN / CNIC 3048930-0I 0038923 Status CO

Taxpayer/Business
CANAL ROAD
TaxAmunt 350,000,000
Amount of Tax in Words : Three Hundred Fifty Million Rupees And No Paisas Only

ADC (e-payment) 350,000,000 31-Dec-2020
FBRADC 0101
Iu 1111 II I HI
11-20201231-0101 1682684
II II I U 1111 IIII I II Signature & Stamp of Manager / Authorized officer
Document ID: 143679370 - Generation Date : 31-Dec-2020 07:04 PM - User: TP 1 of 1

SBP Banking Services Corporation Alternative Delivery Channel -ADC (0101) : ISLAMABAD
CPR No IT-2021 0330-01 01-1774193 Payment Date 30-Mar-'2021

Payment Section 147 - Advance Income Tax - 9202 RTO/LTU LTOMULTAN
NTN I CNIC 3048930-0/0038923 Status CO

Taxpayer/Business
CANAL ROAD
Tax Amount 400,000,000
Amount of Tax in Words : Four Hundred Million Rupees And No Paisas Only

ADC (e-payment) 400,000000 30-Mar-2021
FBR ADC 0101
IIIll' II I U U I U
T-20210330-0101 -1774193
U 'U II II U Signature & Stamp of Manager! Authorized officer
Document ID: 146080202 - Generation Date 30-Mar-2021 05:34 PM - User: TP 1 of 1

SBP Banking Services Corporation Alternative Delivery Channel - ADC (0101) : ISLAMABAD
CPR No IT-20210629-01O1-1651073 Payment Date 29-Jun-2021

Payment Section 147-Advance IncomeTax-9202 RTO/LTU LTOMULTAN
NTN I CNIC 3048930-0 I 0038923 Status CO

Taxpayer/Business
CANAL ROAD
Tax Amount 500,000,00
Amount of Tax in Words : Five Hundred Million Rupees And No Paisas Only

ADO (e-payment) 500,000,000 29-Jun-2021
FBR ADO 0101
H Hil In' II 'HIHI U II H H H U I HI U IIIIIIIII I

IT 20210629-0101 1651073 Signature & Stamp of Manager! Authorized officer
Document ID: 148436911 - Generation Date 29-Jun-2021 11:53PM - User: TP 1 of 1

Annexure-C
Annexure-C
FAISALABAD ELECTRIC SUPPLY COMPANY LIMITED
SALE MIX FOR FY 2020-21 Rs.Million
Revenue asper Actual Mix Revenue as per NEPRA MIX Consumer Mix Variance
Fixed Charge Variable Charge Total Fixed Charge Variable Charge Total Fixed Charge Variable Charge Total
Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees

Month
Jul-20 574 19,514 20,088 853 18,647 19,500 279 (867) (588)
Aug-20 600 22,156 22,755 956 20,902 21,859 356 (1,253) (897)
Sep-20 600 20,418 21,018 898 19,625 20,523 298 (792) (495)
Oct-20 589 16,109 16,699 720 15,732 16,451 130 (378) (247)
Nov-20 571 10,643 11,214 508 11,111 11,619 (63) 468 405
Dec-20 562 10,155 10,717 493 10,783 11,276 (69) 628 559
Jan-21 584 10,321 10,905 499 10,898 11,397 (85) 577 492
Feb-21 (old) - 6,381 6,381 309 6,753 7,061 309 372 681
Feb-21 (New) 669 4,733 5,402 216 5,186 5,402 (453) 453 (0)
March-21 (old) - 125 125 6 133 139 6 7 14
March-21 (New) 634 14,147 14,781 638 15,319 15,957 5 1,172 1,176
Apr-21 641 16,150 16,791 708 16,988 17,696 67 838 906
May-21 664 20,729 21,393 872 20,923 21,795 208 194 402
Jun-21 682 24,055 24,737 1,001 24,031 25,033 319 (24) 296
Total 7,370 195,634 203,005 8,677 197,030 205,708 1,307 1,396 2,703
Annexure -D
•CPPA -
Central Power Purchasing Agency (Guarantee) Limited
A Company of Government of Pakistan
Phone: 051-9216948 Chief Financial Officer (CPPA-G) -

Fax: 051-9216949 Shaheen Plaza, Plot no. 73-West,
Fazal-e-Haq road, Blue Area,
Email: billingcppa.gov.pk Is! am abad
No: CFOGMF(CA&T)1B& cj —'fl DatedLC'J2020
o.C
\F( Chief Executive Officer (FESCO)
LP
-3 /
2. Chief Executive Officer (GEPCO) I Dy. Djr:.A.I/In
3. Chief Executive Officer (HESCO) OLARY rO ..Lç
4. Chief Executive Officer (SEPCO) DATED>. .
5. ChiefExecutive Officer (TESCO) tk QUARTERS FESC1D AU. (AC N)
ailahs
6. Chief Executive Officer (LESCO) P.A. FIN. ors
7. ChiefExecutive Officer (MEPCO)
CASWEF / Er'
8. Chief Executive Officer (PESCO)
9. Chief Executive Officer (TESCO)
F'LC SL
10. Chief Executive Officer (QESCO)
ubject: DELAYED PAYMENT CH.4PGES ADVICE FOR TIlL MONTH OF JUL4'.2 020 ç!
.Detayei piyment charges advice tbr the month of Juy, 2020 is enclosed herevi:Tiforpa meni
a lease.
D.A. (As Above)
D0cf' &A, Dy: Maiger Finance (13&R)

CPPA.G
IM ITcbl
.E iCCO' to:-
/
E!(Cr)
- Finance Director, Au DISCOs
:E ItTXG
(FESC OGEPCO }-IESCO, SEPCO, irsco, LESCO, MEPCO, PESCO, TESCO, QESCO)
/
:.i p&r,
E'tTS)
'F U 'I 321
id II1C
3011 TI
'r (L&L)
0 Sert
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2
Shaheen Plaza, Plot no. 73-West, Faza!-e- cppa.govpk
Phcne: 05l-9l6943 Fax: 051-9216949 Email: billing
Haq road, Blue Area, Islamabad
Scanned with CamScanner

A Company of Governnient of Pakistan
Delayed Payment Charges Advice
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Name and Adress
Faisalabad Eleertic Supply Company (FESCO) -

\VesfCarnil Road,AbdiIltah Pur, Fiisalabad -
BiItin Month July-2020
Advice No LPS/Jul-20[FESCO
GST No 24-00-2716-001-19 Issue Date 26/08/2020
Description Amount (i.s.)
Supplemental Charges for June-2020 613,137,683
Dy Manager Finance (Billing & Recovery)

•CPPA
'ç---- Central Power Purchasing Agency (Guarantee) Limited
Phone: 051-9216948 Chief Financial Officer (CPPA-G)

Fazal-e-Haq road, Blue Area.
Email: billingcppa.gov.pk
Islam ab ad
No: CFO/DGMF(CA&T)fB&RJ56 Dated:74 /,.'2O20
Chief Executive Officer (FESCO)

2. Chief Executive Officer (GEPCO)
3. Chief Executive Officer (HESCO)
4. Chief Executive Officer (SEPCO)
5. Chief Executive Officer ([ESCO) .IFJ.)I'TUTEP.S FESC"
c
6. Chief Executive Officer (LESCO)
7. Chief Executive Officer (MEPCO)
9. Chief Executive Offlcer (TESCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF AUGUST. 2021)
Delayed payment charges advice fcr the month of August, 2020 is enclosed herewith for payment
please.
D.A. (As Above)
Dy: Manager Finance (B&R)

N
CPPA-G
•M (Tech)
. (CCO) L
inarice Director, All DISCOs
FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO, TESCO, QSC
El ,'..) .'.i1N)
I,. -.1
0
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Secrctsry
ig) 5) c3 E.:I,F1SALBAL:
'A PS
5?tj
TED
Shaheen Plaza, Plot no. 73-West, Fazal-e- Phone: 051-9216948 c ppa.gov.pL

Fax: 051-9216949 Email: billing

CPPA-NTN: 4401241-1
CPPA-CST No. 3277876113750
Name and Adress
FaisabbadElccrtic Supply Company (FESCO)

\Vest Canal Road, Abdullah Pur, Faisalabad
Billing Month August-2020
Advice No LPS/Aug-20/FESCO
GSTNo 24-00-2716-001-19 Issue Date 24/09/2020
Description Amount (Rs.)
Supplemental Charges for Aug-2020 219,555,993
Dy Manager Pinance (Billing & Recovery)

/?
CPPA

Email: bil1ingcppa.gov.pk Islamabad
No: CFOGMF(CA&T)&
f0.F(CC)\ 1
'1'.Chief Executive Officer (FESCO) rDY.r)1R(cfi.:.n
2. Chief Executive Officer (GEPCO) ,
:LARY i f:— :•
3. Chief Executive Officer (HESCO) DATFD.'2//.. 2
4. Chief Executive Oflicer(SEPCO) '.TEADQ: .iERS FESC('
5. Chief Executive Officer (IESCO)
6. Chief Executive Officer (LESCO) CA-4fEP 'F
8. Chief Executive Officer (PESCO) FC
10. Chief Executive 0 flicer (QESCO)
Subject: DEtAYED PAYMENT CHARGES ADVICE FOR THE MONTH Q SEPT.EMBER.2Q20_.
• Delayed pyrnent charges advice for the month of September; 2020 is enclosed herewith for
payment please. 'V3\ Io1A
F r:on;
?.MU
DA. (As Above)

CPPA-G
)ir
Copy to:- I/v. Dt
1. Fl nce Director, All DISC (DCCt
DG (HR SEA) (FESCO, GEPCO, HESCd.EacD. IESCd, LESO, MEPCO, PESCO, TESCO, QESCO)
OMO ICOO
G.M (Tccb)
CF. (CCO)
C E /(Opr)
C E /(ftG)
C E tDv)
C EI(P&D)
C S/ITS)
D( (t T)
(I. & LI
-ii Plaza, Plot no. 7-West, Fazal-e- Phone: 051-9216943

D D( Fax: 051-9216949 Email: billing cppa.gov.pk
__LL4q road, lue Area, Islamabad
S .0/A? S
12 //,-

4
CPPA-NTN: 440124!-!
CPPA-GST No. 3277876113750
Name and Adress
FaisalabadElecrtic Supply Company (FESCO)

West Canal Road, Abdullah Pur, Faisalabad
Billing Month September.2020
Advice No LPS/Sep-2OJFESCO
GST No 24-00-2716-001-19 Issue Date 28/10/2020
Description Amount(Rs.)
Supplemental Charges for September-2020 373,590,889

A Company of Government of Pakistan '—
Phone; 05i.9216948 Chief Financial Officer (CPPA-G)

Fax: 051-9216949 Shaheert Plaza, Plot no. 73-West,
Enii1: billi@.'k ls!amabad
No: CFO/DGMF(CA&T)/B&R '3 Dated: / 'I2O20
I ChfE.1ivcOfflcer(FESCO)
3. ChiefExecutive Officer (H.ESCO) DIARY NC ?333
EADQUARTERS F(X.
6. ChiefExecutive Officer (LESCO)
7. ChiefExecutive Officer (MEPCO)
S. Chief Executive Officer (PESCO)
I o: Chief Executi"e Officer (QESCO)
Subject: IJELAYED PAY1ENT CHARGES ADVICE FOR THE MONTH OF OCTOBER, 2020
Delayed payment charges advice for the month of October, 2020 is enclosed herewith for payment
Dy: Manager Finance (B&R

DO1li .AI
CPPA-G
QMO,crjo
G.M (?gc
lIinane Director, All DISCOs C.E (CCO)
CE
FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO, TESCO, Q
rkG}
C E(De,)
C.EI
C EI(Ti)
CFI)
Dir (Lt[)
Co. Secretary
DD(VI1)
S.O/AP
U.
Shaheen Plaza, Plot no. 73-West, Fazal-e- Phone: 051-9216948 Fax: 05 1-92 16949 Email: billinjcpa.gov.pk
Haq road, Blue Area, Is1arnabad

•Central Power Purchasing Agency (Guarantee) Limited
A Company of Govcrnment of Pakistan
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Na.me and Adress
Faisalabad Elccrtic Supply Company (FESCO)

West nai_1oa4, Abdullih Pur, Faisa!abad
Billing Month Octobcr-2020
Advice No LPS/Oct-2OIFESCO
GSTNo 24-00-2716-001.19 Issue Date 13/11/2020
Description Amount (Ri.)
Supplemental Charges for October-2020 6O1696,308
Dy Manager Billing&Rccov)

\CPPA

Faza!-e-Haq road, Blue Area.
Email: billingcppa,gov.pk
Islarnabad
No: CFO/DGMF(CA&T)/B&PJ2S 2 L- Dated: 'lc/pL202O
chief Executive Offlcer (FEScO)

iARy /cy
6; Chief Executive Officer (LESCO)
'2.
10. Chief Exectitive Officer (QESCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF NOVEMBER, 2020
Delayed payment charges advice for the month of November, 2020 is enclosed herewith for
payment please.
D.A. (As Above)
Dy: Manager Finance (B&I

C P PA-G
DG IHA IA)
GMO (COO
G.M (Tck)
C.E(CCO) inance Director, All DISCOs
C E '(Opr) ESCO, GEPCO, HESCO, SEPCO, lES 0, LESCO, MEPCO, PESCO, TESCO, QESCO)
C E 'Ir&G)
C E (Dev)
C.E/ (PID)
C ElTS)
CF 0
(hx Ajd 'or
S.O!APS
.7
Shaheen PlaL Plot no. 73-West, Fazal-e- Phone: 051-9216943 Fax: 051-9216949 Email: billing cppa.govpk
1-Iaq road, Blue Area, Islamabad

CPPA Central Power Purchasing Agency (Guarantee) Limited
A Company olGoverrunent of Pakistan ''
Delayed Payment Charges Advke
CPPA-NTN: 4101241-1
CPPA-CST No. 3277S761 13750
Name and Adress
Faisalabad Elecrtic Supply Company (FESCO)

Billing Month November-2020
Advice No LPS/Nov-20/FESCO
GST No 24-00-2716-00ll9 IssueDate i5tl2/2020_
Supplemental Charges for November-2020 276,948,237
Dy Manage ance (Billing & Recovery)
{aq ra& Blue Axea. Itlarnabadlet % U5l-92l&5O Pa O5l.921b949 Enl.billi (tccpp oapk
Shahecfl Plaza. Plot . 7a-Weat. Fazal-o'I-

,,y \CPPA
1/ Central Power Purchasing Agency (Guarantee) Limited
Phone.: 051-9216948 Chief Financial Officer (CPPA-G)

Fax: - 051-9216949 Shaheen Plaza, Plot no, 73-West,
Email: biIlingcppa.gov.pk Islamabad
No: CFOGMF(CA&& Dated:(41/°/202 I
ef Executive Officer (FSCO)

2. Chief Executive Offlcer (GEPCO) Y1AC(
flQJARTE'
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE IONTH OF DECE-IBE. 2020
Delayed payment charges advice for the month of December, 2020 is enclosed herewith for payment
please.
D.A. (As Above)
[)y: Manager Finance (13&R)

)G CPPA-G
&A)
MO/COO L
M (Tech)
inance Director, All DISCOs
E(CCO)
EI(Opr FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO PESCO, TESCO, QESCO)
I
J(T&G)
i(Oev)
/(P&D)
/(TS)
t'Jjjt,)f
IT)
LU)
I
ecer3 r y
I
p3
I
I
Shahen Plaza, Plot no, 73-West, Fazal-e-
Phone: 051-9216943 Fax: 0SI-92I6949 •Email: billing cppa.govpk

Delayed Payment Charges .4dvice
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Name and Adie
Faisa!abadElecrtcSuppty Company (1ESCO)

%Vest Canal Road, Abdullah Pur, Faisalabad
Billing Month December-2020
Advice No LPS/Dec-20/FESCO
GST No 24-00-27 16-001-19 Issue Date 14/0112021
Supplemental Charges for December-202€Y 465,509,042
Dy Managerlinance (Billing & Recovery)

Central Power Purchasing Agency (Guarantee) Limited -
Phone: 051-111-922-772 Chief Financial Officer (CPPA-G)

Email: billingcppa,gov.pk
Islamabad
No: CFO/DGMF(CA&T)iD&i-' I '1 Dated: 1.J202 I
Chief Executive Officer (FESCO)

2. Chief Executive Officer (GEFCO)
4. ChiefExecutive Officer (SEPCO)
5. ChiefExecutive Officer (JESCO)
FES('
6. Chief Executive Officer (LESCO) V Hia1 g
7. ChiefExecutive OfTicer(MEPCO)
-10. Chief Exeutive Officer (QESCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF JANUARY, 2021
Delayed payment charges advice for the month of January, 2021 is enclosed herewith for payment
please.
D.A. (As Above)
LrjCp(-
Copy to:-
1. Finance Director, All DISCOs
(FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO, TESCO 4)ESCO)
BOtH?. &A)
G.M (Tech)
C.E (CCO)
C E /(Or) C -
C £ I(TkG)
C E(Dc)
C E/(?kD)
C E/(rsl
(FO
CbefAufirir
1)0(11)
Dir-fk cpp' pk
Co SecrIry
p' . PLI o. 73-Wct, FaJ3I--If.N roJ, Bluc
r.1. lsIambad
Phc'nc: 051-111-922-772 Fax: 05I.9216).49
f mJ: biIin gaY
0P( Vig)
S.0IA
rJ1i
CPPA-NTN: 4401241-1
CPFA-GST No. 3277876113750
Name and Adress
Faisalabad Eleertic Supply Company (FESCO)

Billing Month February-2021
Advice No LPS/Feb-2 1/FESCO
GST No 24-00-2716-001-19 Issue Date 17/03/2021
- Description Amount (Rs.)
Supplemental Charges for February-2021 426,455,515
Dy Manage Finance (Billing & Recovery)

.1-1
Phone: 05l-lll-922772 - Chief Financial Officer (CPPA-G)

Fa 05 1-92 16949 Shaheen Pla.za, Plot no. 73-West,
Email: biUingcppa.gov.pk Islamabad
CI6_.S Dated:/ 9/202 I

No: CFOIDGMF(CA&T)/B&RI I
f)
'> 1. Chief Executive Officer (FESCO)
- 4. Chief Executive Officer (SEPCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF MARCH, 2021
Delayed payment charges advice for the month of Nlarch, 2021 is enclosed herewith for payment
please.
D.A. (As Above)

G
.. I ('b)
-CE (CCO) qyt
C EI(Opr)
C E/(T&G} Finance Director, Alt DISCOs
C E(Dcv) (FESCO, GEPCO, HESCO, SEPCO. [ESCO, LESCO, MEPCO' , TESCO, QESCO)
C
C.E/ (P&D)
C
C EJ(TS
CEO
Cb( -¼udiir
DG (1 T)
Dir (L&L)
Co. Snrretr
t
DD(Vi)
S.OIAPS
-
.L-.
"
slthcen Pliza, Plot no. 73-West. Fszl-e-blsq road, Blue Phone5l-922.772L ..1 Email: billing cppa.gov.pk
Area. slamibad

Central Power Purchasing Agency (Guarantee) Limited (i
A Company of Govcrnmnt of Pakistan
Delayed Payment Chares Advice
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Name and Adress

West Canal Road, Abdullah Pur, Falsalabad
BiIlin Month Marc h-202 I
Advice No LPSfMar-21/FESCO
GSTNo 24-00-2716-001-19 Issue Date 14/04/2021
Supplemental Charges for March-2021 176,303,270

ly
'CPF' Central Power Purchasing Agency (Guarantee) Limited
A Company of Unverutu ent of J;4 itt;:
05 1-1 1 1.922.772 Chief Financhil Offlcr (CcA-;,

Fax: 05l-92t69l9 Shaheen Plaza, Plot no. 73-Wct,
Fazal.e.1 faq road, 1Juc /;rea.
Eivail: hillineppn gUy .p) I lrnabad
No: CFOfDGMF(CAT)/l3&Ri 1075-1096 02ted: 31 IIi cr,
• Chief Executive Offlcer(FESCO)

2. Chief Exccutie Officer (GEPCO) :L.k' tG
3. ChiefExecutive Officer (HESCO) DAT ED%7 2
4. Chief Executive Officer (SEPCO) EADQLrARTERS FES(O'
5. Chief Executive Officer (IESCO) Pia1aiuir!
7. ChielExecutive Officer (MEPCO)
S. Chief Executive Officer (PESCO)
Subct DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF APRIL. 202!
Delayed payment charges advice for the month of Ann!. 202! is enclosed herev.i:h fr
please.
• •:.. D.A. (As Above)

CP&A)
GMO:. Dy: Manager Finance (B&R)
G.M (Tech)
C-E(CCO) .-'• p.
C E /(O'r)
C Ef(T.(i) Finance Director All DISCOs
C E (Dcv)
(F . 'CO. GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO.TEsCoQEcJ'
C E.(P&D)
r E'(T5 2. L1ccc 61 0.WAPDA House Lahore.
V
DriL&L
Co Seretr
OD(Vi,)
3.0/A PS
ICii 'Iii,, g,. 7J I IiI riiU, ttIu •

J'0vo /.'\ '
At ti i inI' I
O1'j(

A Comy of Govcrnmcnt of Pakistan
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Name and Adress
Fasa1a Elecrtic Supply Company (FESCO)

\Vest Canal Road1 Abdullah Pur, Faisalabad
Billing Month April-202 I
Advice No LPS/Apr-21/FESCO
GSTNo 24-00-2716-001-19 Issue Date 31/05/2021
Supplemental Charges for April2021 239,141,542
Scanned with CamScaflner

..cpw Central Power Purchasing Agency (Guarantee) Limited
Phone: 051-11 1-922-772 Chief Financial Officer (CPPA-G)

Fa: 051-9216949 Shahcen Plaza, Plot no. 73-West,
Fazal-e-Haq road, Blue Area.
Email: billingcppa.ov.pk
Islainabad
No: CFO/DGMF(CA&T)/B&R11387-1406 2 Datt:2 /06/2021

—\—
It-
Chief Executive Officer (FESCO) EADQUjr FESr
5. ChielExecutive Officer (JESCO) -
( ,-,
9. Chief Executive Dfflcer(TESCO)
10. ChielExecutive Officer (QESCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR THE MONTH OF MA.2O21
Delayed payment charges advice for the month of May, 2021 is enclosed herew\th for pNT
please.
D.A. (As Above)
7)
Co y to:-
DG (HP.&A)
GMOi.
inance Director, All DISCOs
G.M (ieçr FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO, T
C.E (CCO)
C E /(Opr)
C .E /(T&G)
CE(Dev)
C.E/(P&D)
C EI(TS)
*dmr
r-;.
ef Auiuør
DC (1 TI
Dir(I.&L) Sti
Co. Scret;Lry
DD(Vit!t
S.01 A PS
Shthn IIii. Pløt n. 73.'.Vest, FaziIc-I Iq rnd. BRie rhon 051-I -922-772 Fa.'c:0SI.9215949 Erijil: bill II5 OCl'I'.% npk
Area. lsi.iiii.ihad

Dclayed Payment Charges AdvIce
CPPA-NTN: 4401241-1
CPPA-GST No. 3277876113750
Name and Adress

West Canal Road, Abdullah Pur, Faisalabad
Billine Month May-2021
AdviceNo LPS/May-2IIFESCO
GST No 24-00-2716-001-19 Issue Date 2 1/06/2021
Supplemental Charges for May-2021 242,613,772
Dy Manager Finance (Billing & Recove')

S

Phone: 051-I 11-922-772 Chief Financial Officer (CPPA-G)

Fax: 05I-92I6949 Shaheen Plaza, Plot no. 73-West,
Email: bilIingcppa.gov.pk
Islamabad
No: CFO/DGMF(CA&T)!B& J1Z, 7 Dated: 16/07/202 I
9'Chief Executive Officer (FESCO)

2. Chief Executive Officer (OEPCO)
3 Chief Executive Officer (HESCO)
4. Chief Executive Officer (SEPCO) .)IARY NU L
5. ChielExedutivé Officer (LESCO) DATED.
6. Chief Executive Officer (LESCO) !EADQUARTERS FESCt'
7. Chief Executive Officer (MEPCO) iciliuhrl
10. Chief Executive OfTicer(QESCO)
Subject: DELAYED PAYMENT CHARGES ADVICE FOR TIlE MONTH OF JUNE. 2021
Delayed payment charges advice for the month of June, 2021 is enclosed herewith For payment
please.
D.A. (As Above)

PG1&A)
.E (CCO) I. Finance Director, All DISCOs

I(Opr)
(FESCO, GEPCO, HESCO, SEPCO, IESCO, LESCO, MEPCO, PESCO, TESCO, QEScO)
CE/(T*4)
C E(ev)
C.E/(?&D)
C E/(TSt
CEO 4
ChiefAu4it.r
DO (l,T)
)r (LtL)
Ci
I(Vij)
0/A PS ..:.
Sh.ihen Plz3, I'lo no. 73.\Vcst, Fizl-e.Hq road, 13Iu

Phone: 051.111-922.772 Fa.'c: 05l.92l649 ErnaiI biIIinOcpp, eovp
Area. Islarnabad

4
Annexure-E
f i(fl
'iit: ë. o':o
Poh'j I.;Jirr. 'i\'•
No.PF-05(06)201E.17 IIamabd Ihe, 2O June 2017

Subject: ISSUANCE OF SOVEREIGN CURANTEF DY MINISTRY OF FINANCE IN RESPECI
OF SYNDICATED TERM FINANCE FACILITY AOIJNTIUG TO RS. 1.00 81LL10U
FTHEPOwENECfOif ! . —
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For jnIorrni(ico
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T'o. i ( it I i1I Ii ç /LIPU(CI1 !'3 rj I I I LU
J;Ir,'.I

1-
Central Power Purchasing Agency Guarantee Limited

ACornpnyo1Govrnmril otPkistn
CPPA
OFFICE OF THE
CHIEF FINANCIAL OFFICER CPPA-G
SHAH EEN PLAZA, BLUE AREA,FAZAL E HAQ ROAD,ISLAMABAD
No. /CFO/DGM F(CA &T) B &R/Th g

DATED:
CHEF FINANCIAL OFFICER,

tESCO FAISALABAD
SUI3fECT: DEBIT MEMO FOR uj-2O
Please ird enclosed herewith Debit Memo details as below pertins to your company for necessary and
.:flv adiustment at your end.
ru diuNU. IAMOtTNT IEN LU )C"h'
1 PPA42/FESCO-05 Jul-20 5,309,925.00
-'
'••-. l _j
,L.i'.D( 1 •LJ
\ __________
:LL
DY: MANAGER (RECOVERY))

AjAD.
CPI'A-G
•
L ;; ()•_-,
1. —

a
Centra' Power Purchasing Agency Guarantee Limited
DEBIT NOTE SETTLEMENT

Document No: 13118
PPA-42/FESC 0-05
t5SUNlNG OFFICE: CENTRAL POWER PURCHASING AGENCY- Effective Date 31-JUL-20

GUARANTEE LIMITED Issue Date 20-OCT-20
RECE1VIG OFFICE FAISALABAD ELECTRIC SUPPLY COMPANY
Debit MemoAgainst Markup

TYPE:
has been Debited for the amount Rs. 5,309,925

ur
1-lye 1I
e ceb1t raised on account of Payment made to PHPL against arrangement, Trustee and
Being tb respect of STFF Rs.41 Billion on your behalf during Jul-2020 as per documents
legal fe
atta--- —
— DEBIT CREDIT
DESCRIPTION
ACCOUNT
CODE AccoUntS Receivables - Settlement Advice 5,309,925
TOTAL 5,309,925
APPROVED BY
Pr:st Osle 2TCc:-2C 00

User: MUSHTQ.HUSSAIN

RECEIVABLES Total Adju1stment of
% AGE Arrangement, Trustee
ON 3o6.2o
and Ieal Fee
FESCO 130,975,220,507 5.51 5,309,925
GEPCO 59,488,095,487 2.50 2,411,734
HESCO 328,293,797,853 13.82 13,309,506
IESCO 171,629,824,917 7.23 6,958,122
LESCO 255,884,069,706 10.77 10,3i3,911
MEPCO 201,344,216,885 8.48 8,162,786
PESCO 477,250,150,714 20.09 19,348,412
O.ESCO 436,610,513,485 18.38 17,700,822

286,270,450,913 12.05 11,605,819
SEPCO
27,600,499,688 1.16 1,118,964
TESCO
100 96,300,000
', TOTAL 2,375,346,340,255

Hi
traI Power Purchasing Agency Guarantee Limited fr
A Company o(Govrnmciit o1P[tn
OFFICE OFTHE
SHAHEEN PLAZA, BLUE AREA,FAZAL E HAQ ROAD,ISLAMABAD
/CFO/DGMF(CACT)B&R/R DATED; 3 -
MEMO FOR Nov-2Q
;ed herewith Debit Memo details as below pertains to your company for necessary and
-__c'CI° your end.
- MONIH AMOUNt ENCLOSURES
133/FESCO-14 Nov-20 2,270,925.00
....
1
..--i DY: MANAGER (RECOVERY)
CPPA-G
A -

A Company o(Covernmeno(Pak,tan
CPPA
OFFICE OF THE
No. /CFO/DGMF(CA&cT)B&B/Ri DATED: 3 c - 12 -
CHIEF FiNANCIAL OFFICER,

FESCO,FAISALABAD -
SUBJECT: DEBIT MEMO FOR Nov-20
Please find enclosed herewith Debit Memo details as below pertains to your company for necessary and
early adjustment at your end.
MEMO No. MONTH AMOUNT LNCLOSU1ES
1 PPA-133/FESCO-14 Nov-20 2,270,925.00
e.
- --J DY: MANAGER (RECOVERY)

CPI'A-G
t._ -i±±L
c.
cc7


Documen' No: 15600
PPA-1 33/FESCO-14
ISSUNING OFFICE: CENTRAL POWER PURCHASiNG AGENCY- Effective Date 30-NOV-20

GUARANTEE LIMITED Issue Date 22-DEC-20
RECEIVING OFFICE: FAISALABAD ELECTRIC SUPPLY COMPANY
TYPE: Debit Memo Against Markup
ur account has been Debited for the amount Rs. 2,270,925
Two million two hundred seventy thousand nine hundred twenty-five rupees only.
Being the debit raised on account of payment made to PHPL against 1st installment of Mark up for
the period 21 .05.2020 to 20.11.2020 in respect of PKR 41.00 Billion STFF during Nov-2020 as per
documents attached.
ACCOUNT. DESCRIPTION J.. . DEBlT -- -CREDIT

-CODE
1212100 Accounts Receivables -Settlement Advice 2,270,925
TOTAL
.......... - - 2,270,925
fr&
APPROVED BY
Server efpprod.CDP3.QOV.pk User MUSHTAQ.HUSSAIN Pce Date. 25-Dec-20 12:t2:03

CPPA
Sub: PAYMENT OF pt INSTALLMENT OF MARK Up FOR THE PERIOD 21.05.2020 TO

20.11.2020 IN RESPECT OF PKR 41.00 BILLION SYNDICATED TERM FNANCE FACILITY
FOR POWER HOLDING LIMITED
Rep. MoE (Power Division) letter No.05(06-PHPL)/12 dated.18 Nov-2020.
PUC letter received from MoE (Power Wing) vide a letter of PHPL bearing No.PHPLI41/AB1J17,
dated.3' Nov-2020 has been enclosed vide which CFO PHPL. has requested JIS (Power
Division) to make payment of Rs.1,775,423,5621- on account of j$t installment of Markup in
respect of Rs.41 Billion syndicated Term Finance facility (STFF) through CPPA.
2. CFO CPPA has approved the amount of Rs.t775,423,562!- (copy enclosed) Rs.43,246,5741
has been paid upto 30th Nov.2020 and the remainIng amount of Rs. 1,732,176,988/- by 14th
Dec-2020. Total amount of Rs.1 ,775,423,562J- to be allocated to DISCO5 based on receiva bles
from DISCOs as on 3O Nov 2020 worked out jsunder:
RECEIVABI.ES As on Adjustment In Adjustment In TOTAL

DISCOs
30-Nov-20 Nov-20 Dec-20 ALLOCATION
FESCO 129,186,808,439 5% 2,270,925 90,958,519 93,229,444
GEPCO 54,600,362,562 2% 959,799 38,443,307 39,403,105
HESCO 348,631,054,971 14% 6,128,451 245,465,963 251,594,414
.IESCO 163,666,501,097 7% 2,877,030 115,235,159 118,112,19d
LESCO 242,302,277,140 10% 4,259,338 170,601,445 174,860,783
MEPCO 204,687,561,901 •8% 3,598,124 144,117,481 147,715,605
PESCO 505,636,643,402 21% 8,838,392 356,011,272 364,899,664
QESCO 471,087,813,167 19% 8,281,071 .33 1,685,952 339,967,024

,
SEPCO 306,980,866,857 12% 5,396,298 216,140,682 221,536,980
TESCO 33,401,084,377 1% 587,145 23,517,209 24,104,354
TOTAL 2,460,180,973,913 100% 43,246,574 1,732,176,988 1,775,423,562
'-
Asslstarft Manager (Recovery)
DGMF"'CA&T

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POWER HQLDII'IG LTD. Mn1stry of Enor9y
Power Divs!on
(Pvt) Ltd) Government of Pakistan
o. P1-iL'(41..AJLfl7 3Novcmbcr, 2020
The Joint Secp ary,

(Power Diion)
Minitr4f Energy,-
Govenient of Pakistan,
I sl?abad.
Subject: 1 INSTALLMENT OF MARKUP/PROFIT FOR THE PERIOD 21-05-2020 TO

20-11-2020. iN RESPECT OF SYNDiCATED TERM FINANCE FACILITY OF
PKR 41.00 BILLION FOR POWER HOLDING LIMITED
Dear Sir,
Reference Syndicated Term Finance Facility Agreement dated I 1-05-2020, amounting to
Ra. 41,000,000,000/- (Pak Rupees forty one billion only) ("Finance FacilIty") executed between PHL
and a consortium of banks comprising (i) Meezan Barik.Limited (1BL), (ii) Allied Bank Limited
cABL), (iii) Bank of Khyber (BOK), (iv) Natiortal.:.Baikof Pakistan (NBP) and (v) United Bank
Limited (t.TBL) thereinafter collectively referred to as tle Syndicate" and indtvidually as Member
2 Alhed Bank Limited Trustee yide lerter dated 2 November 2020 (Annex A) has
requested for payment of 1" insta1lrnenrôtTmrkup/profit amounngtdPKR2,044l 13,973/- for the
period 21-05-2020 to 20-1 1-2020 ([84 'days) payable on 21.1 1-2020, pursuant to the Syndicated
Tei-m Finance Facility. The markp/protit for the 1" installment has been calculated at 09.89% per
annum (06 months KIBOR of 07"89% taken as of 21 05-2020 (Annx 13) plus a spread of 2 00%) on
a 365 day basis for the ntrre.rna'rk up period
3 Pursuant to the Financing Agreement dated II 05 2017 P1-IL cntitid to

discount/reduction in margin om 2 00% to 0 70% per annum if the markup payment of
PKR i,77S43562J- calculate it 08.59% per arinun(6 months K)BOR o107.89% plus a spread of
0.70%) is fide by FHL to Syndicate Banks with in thifty (30) days of the due date. It may please be
noted that if the markup payment is made by PHL to Syndi'ate 'Banks by 17 12 2020 FElL shall be
entitled to rebate ofPKR26,69O,4ll/ @l,30%'péranum;
4. Ministry of Energy (Power Division) is requested to direct CPPA to make payment of

PKR 1,775,423,562/- on account of I" installment of mark-up/profit in respect of PKR 4100 billion
Syndicated Term Finance FacilIty by 16-12-2020, in PHPL's NIDA Account No. 3148981107,
(PK69NBPA0854003148981107), National Bank of Pakistan, F-6 Super Market Branch,
Islamabad for onward repayment to the syndicate banks.
Chief Financial Officer
cc: 1.. Chief Executive Officer, CPPA (0) LId, Islamabad.

2. ChefFiiiaiiia1 Officer, CPPA (0) Ltd, Is1amabd. r.
- (CA&T)-CPPA-G
"Fr(PP'. Ministry of Energy (PowerDIviF1QL91ea i
n1: ,' .,
Scanned with
CamScanner
You are reque.stcd to kindly setd us a cheque / Payorder for the 1 markup/profit Installment In the name of Allied Bank
Umited as mentioned In the detall above.
Regards,
Usman Masood Saad Reaz

Officer Unit Head —Syndkations dvisory
tnvestment anklng nvestment Banking
Cc Participating Banks

WORKING OF ALLOCATION
1oIcuatorner Nrna '' 'opening BaIacà c1ngaianc Total
1 FA15A1..ABAO ELECTRIC SUPPLY COMPANY 130,975,220,606 129 186 308 439 2,270.925 90,958.519 93,229Ai
7 GUJRANWALA ELECTRIC POWER sg,483,ogs,498 54 600 362,562 959.799 38.413,307 39,403.105
3 HYDER.ABAO ELECTRICSUPPLYCOMPANY 328,293,797,852 343,531,054971 6,128,451 245,465,963 251,594,414
4 ISLAMABAD ELECTRiC SUPPLY COMPANY 171,629,624,917 163,666501 097 2.877.030 115235.159 118,112.190
6 L.AHORE ELECTRIC SUPPLY COMPANY 255,884,069,7061 242,302,277,140 4,259,338 170,601,445 174.360.783
7 MULTAN ELECTRIC POWER COMPANY 201,344,216,886 20.4 687 561 901 3.598,124 144,117,48 I 147.7 15,605
9 PESHAWAR ELECTRIC SUPPLY COMPANY 477,250,1S0,71.3 505 636,643,402 8.388.392 356,011.272 264,899.664
OUEUA ELECTRIC SUPPLY COMPANY 436,610,513,485 471,067,813,157 8,281,071 331.685,952 339,967.024
L
TSUKXUR ELEcTRIC POWER COMPANY 286,270,450,913 306,980,856,857 5,396,293 216,140,682 221,536,990
587,145 23,517.209 24,104.354
11TRI8AL AREAS ELECTRIC SUPPLY 27,600,499,688 33,401,064,377
2375;33'6830;254

I.

A Cotpny of Govrnmett o(Pistn
CP.k4
OFFICE OFTHE
/CFOM(CA&T)B& DATED: I
CHIEF FINANCIAL OFFICER,

£ESCO, FAISALABAD
SUB IET: DEBIT MEMO FOR dec-20
early adjustment at your end. . -
skNo MF.MOtJ. MONIH AMLJULN[ ENCLUsU1Es
1 Pl'A-143/FESCO-15 Dec.20 90,958,519.00
L!
DY: MANAGER (RECOVERY)

CPPA-G


Document No; 18618
PPA-143/FESCQ15
ISSUNING OFFICE: CENTRAL POWER PURCHASING AGENCY- Effective Date 14-DEC-20

GUARANTEE LIMITED Issue Date 24-DEC-20
TYPE; Debit Memo Against Markup
ur account has been Debited for the amount Rs. 90,958,519
Ninety million nine hundred fifty-eight thousand five hundred nineteen rupees only.
Being the debit raised on account of payment made to PHPL against 1st Installment of Markup for
the period 21.0520 to 20.11.20 in respect of PKR 41 Billion STFF during Dec-20 as per documents
attached.
ACCOUNT - .• -.: . DSCRIFTION DEBIT CREUIT

-- .
1212100 Accounts Recciv2btes - Settement Advice 90,953.519
TOTAL . 90,953,519
PREPD BY APPROVED BY
S.jrer apxc4 cppa00vpk User MUSHTAO.HUSSAIN Print Oat 13-Jr1.Z1 10:01:00

/
CPPA
Sub: PAYMENT OF INSTALLMENT OF MARK UP FOR THE PERIOD 21.05.2020 TO

20.11.2020 IN RESPECT OF PKR 41.00 BILLION SYNDICATED TERM FINANCE FACILITY
FOR POWER HOLDING LIMITED
Ret: MoE (Power Division) let-ter No.05(06-PHPL)/12 dated.18 Nov-2020.
1 PUC letter received from MoE (Power Wing) vide a letter of PHPL bearing No.PHPLJ41/A8L117.
dated.3d Nov-2020 has been enclosed vide which CEO PHPL has requested J/S (Power
Division) to make ayiriént àí Rs.1,775,423,5621- cii account of 1 installment of Markup in
respect of Rs.41 Billion syndicated Tern' Finance facility (STFF) through CPPA.
2. CEO CPPA has approved the amount of Rs.1,775,423,552/- (copy enclosed) Rs.43,246,574/
by 14th
has been paid upto 30th Nov.2020 and the remaining amount of Rs. 1,732,176,9881.
- Dec.2020. Total amount of Rs.1 775,423,5621. to be allocated to DISCOs based on receivables
from DISC Os as on 30 Nov 2020 worked out as under.
RECEIVABLES As on Adjustment In Adjustment In TOTAL

DISCOs %age
30-Nov-20 Nov.20 Dec-20 ' ALLOCATION
FESCO 129,186,808,439 5% 2,270,925 90,958,51 ' 93,229444
GEPCO 54,600,362,562 2% 959,799 38,443,307 39,403,105
HESCO 348,631,054,971 14% 6,128,451 245,465,963 251,594,414
JESCO 163,665,501,097 7% 2,877,030 115,235,159 118,112,190
LESCO 242,302,277,140 10% 4,259,338 170,601,445 174,860,783
MEPCO 204,687,561,901 8% 3,598,124 144,117,481 147,715,605
PESCO 505,636,643,402 21% 8,888,392 356,011,272 364,899,664
O.ESCO 471,087,813,167 19% 8,281,071 331,685,952 339,967,024
SEPCO 306,980,866,857 12% 5,396,298 216,140,682 221,535,980
TESCO 33,401,084,377 1% 587,145 23,517,209 24,104,354
TOTAL 2,460,180,973,913 100% . 43,246,574 1,732,175,993 1,775,423,562
I
Assista ' Manager (Recovery)
D : Manas er. - ecove

Calculation of Mark-up
Loan 411000,00Q000
lntaflmont
Period from 21-May-2020
PerIod to 20-N ov-2020
Days 184
Mark-up rate 9.69%
Rebate 1.30%
Mark-up w/o rebate 2M44,113,973

Rebate 268,690,411
Mark-up payment 1,775,423,552

CPPA — Receivable Movement Report
Q1-JUL.2020
G. Dite To : 3O-NV-2C20
Cultomer All Cuitomers
Cwtomer C115s OLSCO
Rec&pt Type All Reelpts
Qpering Unit Market Settlement Ops
r.!Jo cuttomer Nm ' OpQnln 3iLnce Mylce's Receipts Debit Notes Cr*dltNotei colr 8Iance
I FAISALAIAD ELECTRIC SUPPLY COMPANY 130,975,220,606 86,044 751770 89,461,210,512 699,71.3,339 3,071,665.514 129,136.309435
2,,OUIRANWALA LETRIC PQWER 59,438,O95,482 56365,964345 72,522,730,684 2,176525,85 9O7491. 973 5400,353,563
31'r'IYDERABAD ELECTRIC5UPPI.Y COMPANY 328,293,797,652 36,806,592 609 15,387,782,271 515,096830 1,596,O,05Q 348,631,054,971
4 ISAMA8AD ELECTRIC SUPPLY COMPANY 171,629,824 937 61 896 237,164 72,753,030,909 2926,556,923 18 CSG.999 163,666,501 097
S KARACHI ELECTRIC SUPPLY COMPANY 212.526,747,330 33 854,448,712 3133,070.592 1,133,103 0 244,259,253 553
6 LAIIORE ELECTRIC SUPPLY COMPANY 235,834069,706 135.917281,391 153,566289,945 4,639,907,263 572.691,181 242,307,277,110
7 MULTAN ELEcTRIC POWER COMPANY 201,344,215,836 113,563200,403 111,026,976,686 3,399,060,198 2,591,938,900 ZC.4,C87,561.901
9 PESHAWAR EI.ECTRICSUPPLYCOMPANY 477 250,1.50,713 86,730,212044 S7,991,057,633 1,518,465.802 1.171,120,528 505,633.64 3 403
9 QLJETTA ELECTRIC SUPPLY COMPANY 436,610,513,48.5 38,999,622,333 4,384,252,707 173,980,965 302,050,915 479,Q97,30),167
10 SUCKUR ELECTRIC POWER COMPANY 286, 270,4S0,913 28,731,127,669 8,088,060,279 279,974,597 211,526,044 306,980, 866,857
11 TRIBAL AREAS ELECTRIC SUPPLY COMPANY 27,600,499,688 8,820,437,766 1,572,452,395 59,556946 1,506,957,628 33,401084,377
' Grand Total 2 587 873 587 395 698 729 876 195 589 901924 511 is 688 974 326 10950 291 031 2,704440232 47S
\Yjthoul I<E Balance 2.460.180.973.912

*
WORKING OF ALLOCATION
AdJutmentIn N AdJuent1n Dc
'Citornef Name . Opening Balance ClQSlflg Tatl
JjISA1AAD ELECTRIC SUPPLY COMPANY 130,975,220,606 129,186,808,439 2,270,925 90,958.519 93 9 444

JJRANWALAELECTRICPOWER 59,488,095,438 5460O362S62 959,799 38.443,307 '3lQ?'
(THYDERABAD ELECTRIC SUPPLY COMPANY 328,293,797,52 3431054971 6,128,451 245,465,96] ' 394 414
A IS1J¼MA3AD £LECTRICSUPPLY COMPANY 171,629,824,917 163,666,S01,097 2.877.030 115,235,159 118,112 190
6 LAkORE ELEçrRIc SUPPLY COMPANY 255884,069,706 242,302,277,140 4,259,338 170.601,445 174,860,783
7 MULTAN ELECTRIC POWER COMPANY 201,344,216,886 204,68761.901 3,598,124 144) 17,481 147,715,605
8 PESHAWAR ECTRIC SUPPLY COMPANY 477,250,150,713 O563&643,402 8,838.392 356,011.272 364,899,664
91 OUETTA ELECTRIC SUPPLY COMPANY 436,610,513,485 471,087,813,167 8281.07 I 331.685.952 339,967.024
IC SUXXUR ELECTRIC POWER COMPANY 28270,4S0,913 306,98a855,857 5,396,298 216,40,682 221,536,93)
11 TRIBALAREASEI.ECTRICSIJPPLY 27,600,499,688 33401,084,377 587.145 2.3,517,209 24,104,354
Tótl ':: 2375;346540,254 246O18O973913 s43,245574 173217&,9E8 :z51;775;423,S62
Ic

pi Central Power Purchasing Agency (Guarantee) Limited
Supplementary Capacity Settlement Advice (Provisional)

Pursuant to the decision by tribunal constituted by NEPRA in the matter of dispute raised by K-Electric against IDI
measurement relating to 150 MW PPAA
CPPA-NTN: 4401231-1
CPPA-GST No. 32778761 13750
Name and Adress
Faisalabad Elecrtic Supply Company (FESCO) Scttlemcnt Period Apr-21 to My-2 I

West Cnnal Road, Abdullah Pur, Faisalabad Advice No SCSA1FES-un-2l
Advice Date 30/06/2021 I
Issue Dale 26/0712021
GSTNo 24-00-2716-001•19 Due Date Immediate
T5 Pursuant to the decision of tribunal constituted bNEPRA in the matter of dispute raised by K-Electric regarding the MDI
meter reading, the amount ofCPP for the period oiven below is re-worked and the additional allocation in respect ofyour
company is given below:
Additional CPP allocation for thc month ofApr-2 I 7,206,422
Additional CPP allocation for the month of May-21 7,27 S,708
14 4 S 5. 130
/5g3
SbJiccn Vlara. Plot no. 7-Wst. ViFc-1 t.w4 rc,J. Dluc Aro. i,t,nbJ Thi V 05 -1l l -925-15. 05 !-92 00-19 ErniL b0Iinopp.v.

L JPLEMENTA1 PAYMENT CHARGES FY 2020-2021 IPS 2020-21 Booked
MONTH Amount AMOUNT AMOUNT
ULV-2020 613,137,683 204,694347 613137583
AUG UST-2020 219,555,993 ' 226,361,049 219,555,993
SEPTEMBER-2020 373,590,889 221,838,508 373,590,889
OCTOBER-2020 601,696,308 227,193484 601,596,308
NOVEMBER-2020 276,948,237 297,405,899 -
DECEMBER-2020 465,509,042 140,521429 -
JANUARY-2021 274,070,587 86,643852 -
FEBURARY-2021 426,455,515 108,331911 -
MARCH-2021 176,303,270 87,146,101 -
lAPRft-2021 239,141,542 115614,644 -
AY-202 1 242,613,772 169 409,631 -
-2021 637,859,217 177,715,392 - C
L TOTAL 4,546,892,055 2,062,876,247 1,807,980,873

ACompnyofGovernmentofPakiit
CPPA
OFFICE OF THE
- SHAHEEN PLAZA, BLUE AREA,FAZAL E HAQ ROAD,ISLAMABAD
'g
No. /CFOGMF(CA&T)B&ec DATED:
)'
CHIEF FINANCIAL OFFICER,
F1iSCO, FAISALABAD
SUBJECT: DEBIT MEMO FOR Jun-21
early adjustm"nt at your end.
,R.C) MMOO. MONIH AMOUNf ENCJ(ZULZ
I P['A-334/FESCO-34 Jun-21 89,001,420.00
DY: MANAGER (RECOVERY) -.

CPPA-G
- .. .
-I -


Document No: 20118
PPA-334/FESCO-34
ISSUNING OFFICE: CENTRAL POWER PURCHASING AGENCY- Effective Date 30-JUN-21

GUARANTEE LIMITED Issue Date 06-JUL-21
TYPE: .. Debit Memo Against Markup
YotIF account has been Debited for the amount Rs. 89,0017420
Eighty-nine million one thousand four hundred twenty rupees only.
Being the Debit raised on account of payment made to PHPL against 2nd installment of Markup for
the period 21 .11.2020 to 20.05.2021 inrespect of 41 Billion STFF on your behalf as per ECC
decesion as per documents attached.
ACCOUNT : DESCRIPTION DEBIT CREDiT

CODE
1212100 Accounts Receivables Settlement Advice 89,001,420
TOTAL 89,001,420
PREPARED Y APPROVED BY
Seror epod.cppay.pk User MUSHTAQHUSSAIN Pnnt Data O7.Jut.2 la0725

CPPA
SUBJECT PAYMENT OF 2d INSTALLMENT OF MARK UP FOR THE PERIOD 21.11.2020 TO

20.05.2021 IN SPECT OF PKR 41.00 BILLION SYNDICATED TERM FINANCE
FACILITY FOR POWER HOLDING LIMITED
Ref: MoE (Powe ttr No.PF-05(06)2012 dated.22 Apr-2021.
I— PUC letter received from MoE (Power Wing) vide a letter of PHPL bearing No.PHPL/41/ABL/17,
dated.21 t Apr-2021 vide which CFO PHPL has requested J/S (Power Division) to make payment of
Rs.l,636,686!301/- 'n account of 2 Installment of Mark Up for the period 21.11.2020 to
20.052021 in respect ofRs.41 Billion syndicated Term Finance facility (STFF) through CPPA.
CEO CPPA has approved the amount of Rs.1,636.686,301/- (copy enclosed) for release of above
said payment in respect of' subject loan facility and the same will be adjusted against 1evenue of
respective DISCOs and would be allocated to DISCOs based on receivables from DISCOS as bn 3 l
May 2021 worked out as under:
NAME OF DUE FROM PRICIPAL AS

%AGE TOTAL ALLOCATION
DISCOs ON 31 MAY-2021
FESCO 142,826,013.726 5.00 89,001,420

GEPCO 53,629,578,266 1.66 33,419,043
H ESCO 373,895,9S2,292 14.70 232,991,684
LESCO 153,762.095,871 5.67 95,816,193
LESCO 283319.595,719 10.24 176.549,396
MEPCO 222,262.884,853 7.89 138,502.167
PESCO 525,103,131,014 20.50 327,215,773
QESCO 511,365,084,423 - ' 20.23 318,654,968
SEPCO 328,544,654,773 12.93 204,731.193
TESCO 31,781,420,743 I. 19 19,804,457
TOTAL 2,626,490,441,680 100.00 1,636,636,301
Submitted for approval please.
Assist ht Manager (Recovery)
::Dv: Manager (Rcen'erv)-

/

c'o
i/rrj
N
CPPA
Sub: PAYMENT OF 2 INSTALLMENT OF MARK UP FOR THE PERIOD 21-11-2020 TO 20-

05-2021 IN RESPECT OF SYNDICATED TERM FINANCE FACILITY OF PKR 41.00
BILLION FOR POWER HOLDING LIMITED
1. Ministry of Energy (Power Division) Power Coordination Policy & Finance \Mng vide letter
no. PF-05(06)/2012 dated 22 April, 2021 has enclosed PHLs letter no. PHL/(41-ABL)/17
dated 21 April, 2021 requesting to consider PHL's request as per prevalent
rules/regulations. .. .
of mark-up, principal repayments and afl othcr

2. As per the ECC decision, the servicing ,,, ,..ç c kir.t frfUtv shiH be the
- amounts becoming due andpay ' -
responsibility of resoective DISCOs.
21-11-2020 to 20-05-2021 (181
3. The subject mark-up payment pertains to the period from
days) in respect of the subjet loan facility. The mark-up has been calculated at 09.35% per
of 2%) on 365-day
annum (6 months KIBOR of 07.35% taken as of 20-1 1-2020 plus spread
basis for the entre mark-up period.
4. PHL is entitled to discount/redWtiOfl in margin from 2.00% to 0.70% per annum if mark-up
payment to e made within thirty (30) days of the due date. In case mark-up payment is
made by PHL to Syndicate Barks by 16-06-2021, PHL shatl be entlUed to rebate of PK
264,30g,589/-. The mark-up payment may be made by availing the facility of grace period.
After considering the rebate concession i.e. 1.30%, the final payable amount of mark-up
would be PKR 1,636686) 301/- by 16.06.2021 enabling PHL to pay onward to banlc weilin
time.
K
5. CFO CPPA may please approve an amount of PKR 1 )636,686 ) 301/- for release of 2
F
mark-up payment in respect of subject loan facility in PHPL'S NIDA Account No.
3148981107, National Bank of Pakistan, F-6 Super Market Branch, Islamabad, the
Snè will be zdused aqainst revepue of respective DISCOs and would be allocated to
DlSCOs on the basis of receivable balance as on 31-05-2021:
MTO (Finance) CPPA
DM (Bank.inq),CPPA
DGMF (CA&T) CPPA
7:
CFO CPPA

CPPJA
DGMF (C&T) OPPA
\.
I.
DM (CA) CPPA

No. PF05(0)I2012
Government of Pakistan
,, Ministry of Energy
3:Y
(Power Division)
Power Coordination, Policy and Finance Wing
*1 • • ** et
c o
.,.. . Islarnabad, April 22, 2021
..) '.
Chief Executive Officer.

C?PA-G, Islamabad.
2 INSTALLrENT,OF MAUP
Subject IN RESPECT OF SYNDICATED TERM FINANCE FACiL1T? O
IOLDU LIMJIiD.
PILLION OP POVJ
4l/BIHBU
am directed to enc105e herewith PHL'S letter No. PHU
dated 14th April, 202 on the above subject alongwith its enclosures which ,
selfeXPl2n3t0rY.
It is requested to consider PHL'S raucSt as per prevdflt uft /

2.
under jntirn3tiafl to. this Qi'iiSiC at me aiS5t
7CA&flCPPAG
CIMW O. mTE: 1—!
A 1I
/
- 7')
(t1afl3 1 )
CM (iin) l (o) Section Orticer tPr)
Tale: 2022l3
CM (ilIi;) D (Tax)
C.1 ecJe
Cc:
- PS to Joint SecretarY (PF). PoWer Division, Islamabad.
\AV \,3yy:
/ 2Z

Z).
ic W
q9
ri
[e -r1
Ministry of Energy
Power Division
/ 1/0rnierly Government of Pakistan
2 April, 2021
The Joint Secretary,

(Power Division
Ministry oEr1gy.
Govnint of Pakistan,
Islarnabad.
Subject: 2nu INSTALLMENT OF MARKUP/PROFIT FOR THE i>ERIOI) 21-11-2020 TO

20-05-2021, IN RESPECT OF SYNDICATED TERM FINANCE FACILITY OF
PKR 41.00 BILLION FOR POWER HOLDING LIMITED
Dear Sir,
Reference Syndicated Term Finance Facility Agreernert dated I -05-2020, amounting to
Rs. 41,000,000,000/- (Pak Rupees forty one billion only) ('Finance Facility") executed between PhIL
arid a consortium of banks comprisiig (i) Meezan Bank Limited (MBL), (ii) Aflied Bark Limited
(ABL), (iii) Bank of Khyber (BOK), (iv) National Bank of Pakistan (NBP) and (v) United Bank
Lnmted (UBL) (hereinafter collectively referred to as the Syndicate 'md i'idividuilly as MLmber
2. Allied Bank Limited, Trustee vide letter dated l9 April, 2021 (Annex-A) has requested
for payment of 2'd insta]lment of markup/profit amounting to PKR 1,900,995,890/- for he period
21-11-2020 to 20-05-202! (181 days) payable on 21-05-2021, pursuant to the Syndicated Term
Fmnce lacility The m irk up/profit for mu tnsnizmenm na ceen Lalcul ited 'mi 0) pet at nut,
(06 months KIBOR of 07.35% taken as of 20-I [-2020 (Annex-B) plus.a spread of 2.00%) on a 365
day basis for [lie entire mark-up period.
Pursuant to the Financing Agreement dated 11-05-2017, P1-IL is entitled to

discountlreduction in margin.: from 2.00% to 0.70% per annum if the markup payment of
PKR-1,636,686,301/- calculated at 08.05% per annum (6 months KIBOR of 07.35% plus a spread 0F
0.70%) isniadebyPHL t6 S didat Banks with in thirty (30) days of the due date. It may please be
noted that if the markup payment is made by PHL to Syndicate Banks by 18-06-2021, P1-IL shall be
entitled to rebate of PKR 264,309,589/- @ 1.30% per annum.
4. Ministry Energy (Power Division) is requested to direct CPPA to make payment of

PL(R 1,636,686,301/- an account 02J installment ofmark-up/protit in rcspccm OfPKR 41.00 billion
Syndicated Term Finance Facility by 16-06-2021, in PF-IPL's NIDA Account No. 3148981107,
(PK69NB1'A0854003 148981107), National Bank of Pakistan, F-6 Super Market Branch,
lsl:i nial)ad for onward repayment to the syndicate banks.
-( FRAZADRf)
Chief Financial Officer
cc: 1. Chief' Executive Officer, CPPA (G) Ltd, Isiamabad.

2. hief Financial Officer, CPPA (G) Ltd, 1s!amabad.
3. v/Section Ofticer(PF), Ministry of Energy (Power Division), Islanmubii4

Allied Bank
Apili 19, 2021
ftr. Faraz Qadri
chef 1nncial Ofricer

Poi'er Holding Private Urn d -
ionm 602 A 003

6th Fior'r Slhc.'.Miil Secretarat.
Chins C1ow., !innh Avenue, itlamabad.
1513m3b3d -
Su)ect: Power Holding Prlv5te Umited ('PHPL) . Sjndcatcci Term Finance Faclilt'? of P<R 41,000 MIlton —Nottcc
ci Provisional Profit 2nd lnstlImunt)
Dear Sir
21ss a with rererence to toe SynOicateti Term Pt "ce unt u! i'ri 4,00I) Mitlion sitOsed into ber.veen Power holding
lPvtJ 1imitd PHPL" or th "Company"), Allied Bn br.itvd tlniteJ 0zsntt tinted and The Dank cf Whytacr and the Wakala
Agreentent of PKR 17.000 Million entered intO bet..een Pff?L, f.o'a;ir' 0vnk tinirte3 nd yL:io,ivl fian :f P'dttari both dated
May 11, 2020 (tla Sriicated Trtn Fn1ite Agree n'-.: i.i c.o .';;'.aL3 !ret arC I r'ii.vftr ':tl: collectively refCrrCd
to as (tie Agieenivrifsj.
At per terms & cndt:cr. of the Agrectien:s. s t;tclri grariir. PIR 1,63,635,301/- OOrt3r.tI to Markup/Profit
paynlenl will be due for payrnnt on May 21, 2021 Z ayiIe'0 is lri3ilC wtin 30 days of :l'., date as more fully
detcribd Markup/Profit Payreiat). Breakup f lne r.oi,ntt nit tall OUC icr poyrt cii May 21, 03 are jt follows:
hlarki:talProflt P:.vmrt: The t rt~ri.jp/:ror.l tli.t taiio to barkn it P1<0 i,&36,eziG,301/. (or the perod
NO%l'aillbCrZl. 2020 to t.l;y 20. 2021 ncse 'nun! ci ?iii,i,.'nt t made -.'iihin 30 dayS ci '.Oo'Juo date. i.e,June 20,
2021. Pteseo note in case the payntert 5 maca f 30 oaet a' r.e dvv date, the creect w:;l un created hoist 0.70i to
2.0Ctf ar.ci a narup/pro(t 3meti01 of PXR 1,900, 5,$90- in,a; b'~ pay:iole tisereaft'at.
lastallment PerIod: tivmhr 2!. 3000 - Ms 1 20, 7021 (b:h days nil i,tj' , 1St 'Jaysf
Initatiment Payment Due Date: Msy 21. 203!
Applicable Date Rate: 7,35,.
Applicable Markup Rate it Payment is
3.0S
made wIthin 3') days:
Applicable Mar1up Rate if Payment is
made after 30 days:
(Arnowits in PK)
Mrk'up Instalment
NI ark'up tnstslment
psyale f payment Is made
• Total Outstandi'tg payable If payment Is
within 30 doy I.e. before
made after 30 days
December 21, 2020
XlitJ 0nk UcniteiJ a,500,000.0C•) 339313,013.70 34 103 9011
Meesn llanL lji',ste'J S.500,00Ci,0Ci.t 339,31 3,013.70 194,103,90&11
United batik Limited 7,000,000,000 219,433,249.53 321,560,273.91
National barile of Pakistan 3.500,000,000 339,313013.70 394,103,904.11

s,500,000,000 339,313,013.70 39.1, 103,904.11
Bank ol Khyber
41,000,000,000 1,636,36,301.33 1,900,995,390.41
Total
c- 'jf,'l Y.t-±
p
- --
T.
lied Bank
Yo rqueed o kndy e'd u chquc / Poe fr c " mrwp/proit 1rni in name of Mlicd £3an
Llintcd as rjone'J tincier SoriOl no. 1.
Usm3rs Missood Siad RCl3 I

--
Q((7ce — Syndc3ton kind AIiscrj - Unit Head — 5'jnriicisions arid Advsorj
Investment I3anirig Invetmersc 83nkin
'
- S

CPPA — Receivable Movement Report
GLD3te From 31-MAY-2021
GLOatelo 31-MAY-2021
Customer AU Customers
Customer Class DISCO
Receipt Type All Receipts
Operating Unit : Market Settlement Ops
5r.No Customer Name Opening Balance Advices Receipts Debit Notes Credit Notes CloslngBalarke
I FAISAIABADELECTRICSUPPLY COMPANY 124,474 203,608 19,112,409 944 1,395,595 879 634 996,053 o 142,826,013726
2 GUJRANWALA ELECTRIC POWER COMPANY 41,225,850,178 13,705,401,988 1,733,992,531 464,407,862 32,089,231 53,629,S78266
3 HYDERABAD ELECTRICSUPPLY COMPANY 365,956,462,838 8,373,080,134 •420,182,917 106,892,118 120,269,881 373,895,982,292
4 ISLAMABAD ELECTRIC SUPPLY COMPANY 141,134,823,599 23,766,822,369 1,650,899,648 396,634,660 9,885,285,108 153,762,095871
5 LAHORE ELECTRIC SUPPLY COMPANY 254,896,931,731 29,337,491,574 1,964,529,926 1.04 .7O2,340 0 283,319,595i719
6 MULTAN ELECTRIC POWER COMPANY 196,436,842,957 26,929,,70,874 1,880,969,328 784,039625 6,399,276 222,262,884,853
7 PESHAWAR ELECTRIC SUPPLY COMPANY 510,554,327532 19,017,053,580 :4,796,745,683 328,495,585 0 525,103,131,014
8 QUETTA ELECTRIC SUPPLY COMPANY 503,704,792,61 7,971,215,166 352,443 133 41,854,786 334 757 511,365,084,423
9 SUKKUR ELECTRIC POWER COMPANY 321,943,869,507 6,600,856,873 64,559,836 G4629,3G6 141,137 328,544,654773
10 TRIBALAREAS ELECTRIC SUPPLY COMPANY 29,749,155,076 2,069,364,374 52,436,392 15,337,685 0 31,781,420743
GrandTotal 2490077259387 156883066876 14312355273 3886990080 10044519390 2626490441?680

4
Annexure -F
Annexure-F
Faisalabad Electric Supply Company Limited (FESCO)
Detail of Distribution Margin Recovery Status For FY 2020-21
l)cscriptioii .Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 .Jan-21 Feb Mar-okl Apr-21 May-21 Jun-21 Total
Units Purchascd MkWh 15,985

1,824 1,832 1,669 1,288 881 898 923 901 1,120 1,291 1,597 1,761
Unit Sold (Standard) MkWh 1,646 1.653 1,506 1,162 795 810 833 813 1,011 1,165 1,442 1,589 14,424
Rs/ kWh 1.49 1.49 1.49 1.49 1.49 1.49 1.49 2.00 2.00 2.00 2.00 2.00
Net DM
Distribution Margin Rccovciy Rs In Million 2,460 2.471 2,252 1,737 1,189 1,211 1,245 1,624 2,020 2,328 2,881 3,176 24,595
DM Allowed 27,452
Under Recovery 2,857
Annexure - G
A
Pay package comparable to Grade-18 Officers. Finania1 implication of Rs. 10 1490* 12 =
12,17,880/-per annum is involved.
BOD FESCO was requested to approve the hiring of Mr. Zafar Maqbool (Dy. Director Audit,
retired on superannuation w.e.f 23.04.2020) as Audit Consultant in the Office of Chief of Audit FESCO for a
period of One (01) year with effect from the date of approval by BOD, extendable after every Six (06) months,
at lumpsum package of Rs. 101490/- per month on the above terms & conditions.
Resolution-20Y"— BOD-R18:
BOD resolved and approved the hiring of Mr. Zafar JI'taqbool (Dy. Director Audit, retired
on superannuation w.e.f 23.04.2020) as Audit Consultant in the Office of Chief of Audit
FESCO till posting of a regular incumbent, upto the period of One (01) year with effect
from the date of approval by BOD, extendable after every Si'c (06.) months, at lumpsum
package of Rs.101490/-per month on following terms & conditions:-
a. Rs.101490/-per month (Net remuneration).
b. TA / DA as admissible to Grade-18 officer against each journey performed in the interest
of work.
c. Conveyance on requirement.
Charter of duties ofAudit Consultant will be as under:-
a. To ensure that appropriate controls are available for monitoring compliance with rules &
regulations and internal policies
b. To monitor and review the effectiveness of the internal audit functions
c. To ensure that the internal audit function is adequately resourced and enjoys appropriate
standing within FESCO
d. To propose Annual Audit plan in consultation with Audit Committee
e. To implement the AnnualAudit plan, including as appropriate any special tasks or projects
reqiLested by the Audit Committee.
f To issue periodic reports on a timely basis to the Management, summarizing result of audit
activities.
g. To assist in the investigation of significant suspected fraudulent activities and notify the
Audit Committee and CEO of the results and
h. To look after administration and discipline the audit staff
BOD also resolved to issue Displeasure notice to DG (HR&Admn) FESCO on account offailure
to comply with BOD's earlier Resolution /Decision about advertisement of critical vacancies.
Agenda-I9 ADOPTION OF ASSISTANCE PACKAGE FOR FAMILIES OF EMPLOYEES WHO

DIE DUE TO COVID-19 WHILE PERFORMING OFFICIAL DUTIES NOTIFIED
VIDE PEPCO O.M NO. MDP/GMHRJDSWI45O6-22 DATED 30.04.2020 AND NO. 5208-
23/MDP/GM (HR)/PEPCO! SWD/49 DATED 04.06.2020
DO (HR&Admn) FESCO presented the agenda. He informed that General Manager (HR),
PEPCO vide O.M No. MDP /GMHR /DSW /4506-22 dated 30.04.2020 has conveyed the approval of
competent authority to allow assistance package to the families of employees of PEPCO / DISCOs who
die of Covid-19 while performing official duties as under:-
i. Ex-gratia grant of Rs.3.5 million to the families of those employees who die of Covid-19
while performing official duties.
ii. Retention of house or payment of rent ofhired house or house rent allowance where house
acquisition facility is not allowed, for five (5) years or till the date of retirement of deceased
employee whichever is more.
iii. Employment to one child or widow for posts in BPS-I to BPS-15 without advertisement
according to qualification.
Page 46 of 57
Minutes of 203"/32" meeting of BOD held on 31.08.2020
.
Resolution-20Y"— BOD-R19:
BOD resolved and accorded approve/for adoption of Assistance Packageforfamilies of
FESCO employees who die due to covid-19 while performing official duties noqfled by
PEPCO vjde O.M No. MDP/GMHR /DSW/4506-22 dated 30.04.2020 and O.M No.5208-
23/ MDP/G.M (HR) PEPCO/SWD-49 dated 04.06.2020 as it is OR with the amended /
reduced amount of marriage grant approved by BOD FESCO tinder Prime Minister's
Assistance Package regarding marriage grant, on the recommendation of HR committee.
However, the amount of compensation will be, as approved by BOD in case of fatal
accident to an employee.
Agenda-20 DRAFT POLICY TO COMPENSATE THE BEREAVED FAMILIES ON FATAL/NON-

FATAL ACCIDENT OF GENERAL PUBLIC IN THE LIGHT OF PEPCO LETTER
NO. MANAGER HSEQ CELL/PEPCO/62-74 DATED 24.01.2020
DG (HR&Admn) FESCO presented the agenda. He informed that General Manager (HR),
PEPCO vide letter No. Manager HSEQ Cel1/ PEPCO /62-74 dated 24.01.2020 has forwarded a Compensation
Policy adopted by IESCO for the bereaved families on fatal / non-fatal accidents of general public. GM (HR)
PEPCO has conveyed through letter referred above that the competent authority in Power Division has desired
that all DISCOs shall develop / adopt a similar policy for compensation to the bereaved families on account of
fatal / non-fatal accidents of general public due to distribution network of DISCOs.
The salient features of Compensation Policy adopted by IESCO is reproduced as under:-
a. CASH/ COMPENSA TION:-
Amount Category Remarks

Rs. 750,000/- To private individual in case of death
To private individual in case of LIajor / minor disability to be
Rs. 500,000/-
accidents resulting in a major disability, determined by i1S WAPDA / Ci'IH /
To private individual in case of accident Government Hospital / Doctor of DHQ
Rs. 300,000/..
resulting in a minor disability, or higher category of Govt. Hospital.
b. AFFORDING EDUCATIONAL EXPENSES:-
If the individual who meets wit/i nonfatal accident, resulting in a major disability isa minor
and is also a student, the IESCO will bear all expenses incurred on his /her education up
to matric as per actual expenses for which documentary evidence of the relevant Institute
and of books/note books, uniform will be provided.
c. PA YMENT PERIOD:-
Payment of the compensation will be made within fifteen days of the happening of the
incident and the same will not be delayedfor want of receipt of inquiry report of the incident.
d. COMPETENCY:-
Since the Board of Directors has approved the policy, therefore, the Circle S.Es are
competent to approve the payments after confirming that the incident has taken place in
actual and the same should be reported to DG /HR&Admn JESCO in each and every case."
FESCO is observing following compensation policy notified vide FESCO letter dated
25.09.2006:-
This policy is made to achieve the following objectives:-
a. To compensate the bereaved families without going through the difficulties of obtaining
degree through the court.
b. To avoid unnecessary delay.
Page 48 of 57
Minutes of 203"/32" meeting of BOD held on 3 1.08.2020 nyeGretaijJ FESCO
the PC-i may be reviewed! amended accordingly, which will be acceptable to all participants in any case.
Mr. Javed iqbal Khan, Director also seconded his version.
Resolution 205th_ BOD-R2:
BOD resolved and accorded approvalfor the release of Rs. 1680.166 Million for Ihe works
which have been completed & on-going out of 7th STG and which were spilt over to 8th
STG as well as Rs. 1500 Million for the critical works required for system up-gradation
from 8th STG (1680.166 + 1500 = Total 3180.166 Million) out of the already allocated
budget of Rs. 4500 Million for the financial year 2020-21, on the recommendation of the
Audit Committee.
BOD further directed FESCO management to take up the case with Ministry of Energy
(Power Division) /well as PEPCO/any other appropriate forum for early approval of PC-i.
Agenda-3 TO CONSIDER AND APPROVE THE REVISION OF ASSISTANCE PACKAGE FOR

FAMILIES OF EMPLOYEES WHO DIE DUE TO FATAL ACCIDENTS OR BECOME
100% INCAPACITATED I DISABLED DUE TO NON-FATAL ACCIDENTS WHILE
PERFORMING OFFICIAL DUTIES — RATIFICATION OF PEPCO OFFICE
MEMORANDUM / LETTER NO. 5698-5721/MDP/GMHRJSWD/I4 DATED 01.07.2020
AND NO. 5967-60161MDP/GMHRJDSW/16 DATED 10.07.2020
DG (HR&Admn) FESCO presented the agenda. He informed that BOD FESCO in its 188th117th
meeting held on 25.07.2019 has resolved and approved adoption of following Assistance Package for families
of FESCO employees who die due to fatal accidents or become 100% incapacitated due to non-fatal accidents
while performing duty as conveyed vide PEPCO O.M No. GM(HR) /HRD/A-332/1 1398 dated 23.11.2018 in
FESCO w.e.f. 23.11.2018 notified vide DG (HR&Admn) FESCO Office Order No.4312 dated 29.08.2019.
Item Description
Ex-gratia grant of Rs.3.5 million to the families of those employees who die
Lump Sum Grant . .
due to fatal accident or are 100% incapacitated / disabled (non-fatal accidents).
Retention of house or payment of rent of hired house for five (5) years or till
Accommodation
the date of retirement of deceased whichever is more.
Employment to one child or widow for posts in BPS-I to BPS-15 without
Employment .
advertisement according to qualification
To ensure providing best possible medical treatment in country to the
Health employee incapacitated in accident (amputation of hands, legs, etc.) and
replacement of amputated limbs with best possible available limbs.
Free education to all children of the deceased / 100% incapacitated employees
up to graduation (all fields of graduation) in any public / government
Education educational institution including expenses of tuition fee, books, related
material, living allowance, etc subject to production of verification certificate
from the I-lead of Institution.
Monthly Welfare Grant of Welfare Fund to the family of the deceased employee, as per
Grant entitlement
Marriage Grant amounting to Rs.4,00,000/- (Rupees Four Lac each) on the
Marriage grant
marriage of two (2) children of the deceased /100% incapacitated employees.
100% free electricity units, as per their entitlement to the family of deceased /
100% incapacitated employees till superannuation. After superannuation,
Free EIectricit' Units
electricity units will be reduced to 50% similar to the employees retired in
ordinary manner.
Now, PEPCO through following Office Memorandum and letter has conveyed the approval of
BOD / M.D PEPCO regarding amendment in above Assistance Package for families of employees who die due
to fatal accidents or become 100% incapacitated! disabled due to non-fatal accidents while performing official
duties as mentioned against each:-
Sr. No. Description Existing Proposed / Revised PEPCO O.M I

Amendment Letter No. & Date
i. Ex-gratia grant 3.5 Million 4 Million 5967-6016 dated
w.e.f. 01.07.2020 10.07,2020
e7of34
Minutes 0f205th/34t1 meeling of BOD held on 29.10.2020
Annexure -H
j1\/tY&X— H
IAJSALABA1) ELECTRIC SUPPLY COMPANY LIMITED
Phone : 041-9220242 OFFICE OF THE

Fax : 041 -922(.)2 17 CHIEF FINANCIAL OFFICER
1 Mail: ddac@Ibsco.coIn.pk FESCO FAISALABAD
ISO
No. /CFOJFESCO/Budget-PMAP Date: I 09 I 2021
Registrar NEPRA,
NEPRA Tower, Attaturk Avenue (East),
Sector (3-5/1, Islamabad
Subject: REQUEST FOR SEI'ARATE APPROVAL REGARI)ING PRIME

MINISTER'S ASSISTANCE PACKAGE.
It is apprised that FESCO requested an amount of Rs. 418 Million on account

of Prime MiniSter's Assistance Package for families of employees who died during service
(fiom the date of its applicability from February, 2015 to December, 2019). The said
amount was included in the Prior Period Adjustments as part of Annual
Adjustmentilndexcttion of Distribution Margin for FY 2020-21 under Multiyear Tariff
Regime, filed vide letter No. 11656-59 dated 19.10.2020. The case was explained in detail
under Para 3.1.8 of the Annual Adjustrnentllndexation (Copy attached as Ann exure-A).
The package comprised upon Rs. 248 Million for Lump Sum Grant and Rs.170 Million for.
Marriage Grant.
Public Hearing was held on Apr11 22, 2021. However, determinationidecision
of the same is yet to be announced.
Certain components of the Prime Minister's Assistance Package like House
Rent and Scholarship were not claimed in the referred adjustments for FY 2020-21 due to
non availability of complete information regarding families of deceased employees.
Furthrmorc, Assistance Package for families of employees who died due to COVID-19
while performing official duties, adopted by FESCO after approval of Board of Directors
(Copy attached as Anncxure-B), was also not included due to non availability of
information of deceased employees..
The updated financial impact of PM's Assistance Package adopted by
FESCO including Assistance Package for deceased victims of COVID-19 is given below:-

Financial Impact of Prime Minister's Assistance Package
Amount in Million
Lump Sum COVID-19 Marriage House Rent

FY Scholarship Total
Grant Package Grant Allowance
2014-15 21.000 - 15.000 0.162 36.162
2015-16 50.000 - 36.000 1.813 87.813
2016-17 53.000 - 36.000 3.960 92.960
2017-18 45.000 - 28.000 8.939 81.939
2018-19 47.000 - 32.000 11.327 90.327
2019-20 (Jul-Dec) 32.000 23.000 67.863

- 12.863
2019-20(Jan-Jun) 24.000 - 2.940 26.940
2020-21 50.000 28.000 3.820 15.226 11.184 108.230
TOTAL 322.00 28.000 176.760 54.290 11.184 592.234

Annexure -I
0 & M BUDGET FOR FY 2021-22 (PROPOSED)
Rs: in Million
FY 2020-21 FY 2021 -22
Sr
Description Expenditure Proposed
Budget
(Audited) Budget
1 Salaries,Wages & Other Benefits 10,370.000 9,510.223 12,781 .289
2 Retirement Benefits 13,765.000 8,775.152 10,307.923
3 Repair & Maintenance 694.000 645.463 586.000
Travelling Expenses 369.938 350.463 382.336
Transportation 304.173 281 .318 323.766
Telephone 33.612 34.250 35.751
NEPRA Fee 49.540 49.535 49.829
4 Collection Charges 324.368 362.163 382.082
Stationery 201 .512 154.594 214.207
Misc. 607.009 440.847 516.181
Bank Charges 7.848 3.480 7.848
Sub-Total (4) 1,898.000 1,676.650 1,912.000
5 PM Assistance Package - - 84.000
TOTAL (1+2+3+4+5) 26,727.000 20,607.488 25,671 .211

Less: Transfer to Capital Work in
400.000 723.211 723.211
Progress
NET TOTAL 26,327.000 19,884.277 24,948.000
PROPOSED O&M BUDGET FOR FY 2021-22
Rs. in Million
FY 2020-21 FY 2021 -22
SAP CODE PARTICULARS Expenditure Proposed
Budget
(Audited) Budget
PAY AND ALLOWANCES
8030000 Basic Pay 4,431.374 4,115.591 5,263.812
8030001 Cash Medical Allowance 212.758 201.470 234.569
8030002 Conveyance Allowance 425.625 406.859 457.317
8030003 Deputation Pay 0.182 1.060 0.402
8030004 Dual Charge Allowance 3.211 2.889 2.838
8030005 Entertainment Allowance 0.224 0.220 0.275
8030006 Group Life Insurance 2.468 2.211 5.207
8030007 House Rent Allowance 365.428 346.854 399.978
8030008 Job Allowance 409.324 441.792 365.495
8030009 Livery Allowance 4.724 5.660 4.907
8030010 Local Compensatory! WAPDA Allowance 13.987 11.280 45.260
8030011 Officiating/Personal Special Pay 5.348 7.131 9.141
8030012 H/Q Allowances 58.292 63.178 60.552
8030013 OffDayWages 313.462 296.681 299.742
8030014 Personal Allowance/Engineering Allow. 39.912 37.946 25.272
8030015 Qualification Pay/Technical Pay 0.586 0.838 2.276
8030016 Senior Post Allowance 0.096 0.551 0.052
8030017 Shift Allowance 9.369 8.360 8.786
8030018 Special Pay 0.118 0.183 7.246
8030020 Washing Allowance 105.151 97.545 107.155
8030022 Overtime Pay 10.570 6.427 8.374
8030023 Daily Wage Labour 11.974 12.046 10.047
8030024 Misc. Allowance 34.773 10.683 18.446
8030025 Bonus 370.098 341.119 438.651
8030027 BasicSalary-Consultant - 0.836 -
8030028 Appointmnt Allowance - 0.032 -
8030029 Ordely Allowance - 1.387 3.580
8030040 Meter Reading Allowance Beyond Yardstick 265.742 254.094 233.737
8030041 Dislocation Allowance 4.127 37.818 -
8030207 10% Adhoc Relief-2016 319.750 294.182 373.220
8030208 10% Adhoc Relief-2017 425.498 407.545 526.381
8030209 10% Adhoc Relief-2018 425.119 407.321 526.381
8030210 Adhoc Relief @10%/5%-2019 404.390 388.002 502.686
8030211 Disparity Reduction Allowance @ 25% 357.860 332.634 1,278.659
8030212 Adhoc Relief-2021 @ 10% - - 526.381
SUB TOTAL: 9,031 .540 8,542.448 11,746.826
EMPLOYEE BENERTS -
8030301 FreeSupplyFESCO-CP91 522.120 531.444 511.296
8030303 Free Supply-Other Companies-Dr. Notes 26.749 23.709 24.497
8030305 Bereavement-Funerals 7.220 5.638 5.798
8030306 Sports and Recreation 15.000 11.224 15.516
8030308 Medical and Hospitalization Expenses 61 .337 60.227 45.173
8030309 Medical and Hospitalization Expenses-Others 1.003 1.600 2.158
8030310 Education and Training Expenses-Outsourced 11.379 4.079 18.175
8030311 Education and Training Expenses-Employees 32.421 20.560 51.262
8030312 Residential Telephone 1.304 0.962 0.927
8030313 Incentive 113.310 96.993 110.767
8030314 Standard Rent 7.846 2.393 5.449
8030316 Prorata Medical Expenses 230.000 208.804 243.437
SUB TOTAL: 1,029.731 967.775 1,034.462
Reserve 538.729 -
TOTAL PAY & ALLOWANCES 10,370.000 9,510.223 12,781.289

Faisalabad Electric Supply Company LTD.: Annual Adjustment/Indexation of Distribution Margin (DM) For FY 202 1-22

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Faisalabad Electric Supply Company LTD.: Annual Adjustment/Indexation of Distribution Margin (DM) For FY 202 1-22

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Faisalabad Electric Supply Company Ltd.

October 28, 2021

FESCO HEAD QUARTER

3. Prior Year Adjustment (PYA) For FY 2020-21 4

3.1. Excess adjustment of Interim Distribution Margin (DM): 4

3.2. Minimum Tax Paid during FY 2020-2 1: 4

3.3. Sales Mix Variance: 4

3.4. Excess Supplemental Charges of Rs.2,482 Million than LPS: 5

3.5. Supplemental Charges of Rs.187.538 Million: 5

3.6. Under-Recovered Distribution Margin (DM) for the FY 2020-21:. 6

3.7. PM Assistance Package & Package for COVID-19 Victims: 6

3.8. Actuarial Gain/Loss Charged to OCT for FY 2020-21 7

3.9. Summary of Prior Year FY 2020-21 into Distribution & Supply: 7

4. Distribution/Supply Margin (D/SM) 8

4.1 Operation & Maintenance (O&M) Cost: 8

4.2 Return on Rate Base (RORB) Adjustment: 10

4.4 Supplier Margin / Profit 12

4.5 Other Income: 13

2.2 FESCO filed Annual Adjustment/indexation of Distribution Margin (DM) for

2.3 According to NEPRA guidelines for determination of consumer end tariff

3.2. Minimum Tax Paid during FY 2020-2 1:

(Table- 02) (PKR Mlii.)

3.3. Sales Mix Variance:

1 LPS/Jul-20/FESCO Jul-20 613

3.5. Supplemental Charges of Rs.187.538 Million:

PPA-133/FESCO-14 (3rd Install) Nov-20 2.270

(Advices Attached E/2 to E5)

3.6. Under-Recovered Distribution Margin (DM) for the FY 2020-21:

3.6.2 Authority is requested to allow the un-recovered Distribution Margin of Rs.2,857

3.7. PM Assistance Package & Package for COVID-19 Victims:

meeting held on 29.10.2020 has adopted Assistance Package circulated by General

3.7.5 To redress the grievances of bereaved families of deceased employees, who

3.8. Actuarial Gain/Loss Charged to OCT for FY 2020-21

(Table-06) PKR Million

5,960 (2,401) (49) 3,510

3.9. Summary of Prior Year FY 2020-21 into Distribution & Supply:

Excess deduction of Interim DM 24 - 24

4. Distribution / Supply Margin (D / SM)

(Table-08) PKR Millions

Note: Assumptions, not exhaustive, in support of the different components of

4.1 Operation & Maintenance (O&M) Cost:

(Table- 09) Rs. in Million

4.2 Return on Rate Base (RORB) Adjustment:

RORB(Rev) = RORB(Re0 RAB(Rev) / RAB e0

RORB (Adj.) = 7,305 *Adjusted WACC,

WACC for the FY 202 1-22

RORB(Rev) RORB(RefJAdj) * RAB(Rev) / RAB(ReD

Add: Addition/Transfer in Fixed Assets (Net) 7,115 14,777

4.4 Supplier Margin / Profit:

OI(Rev) 4,877 + (4,877-6,214)

(Table-13) (PKR Million)

Gain on New Connections 650 - 650 482 0 482

Other Misc. Income 106 33 139 45 16 61

5.4.1 Complete structure of MIRAD already endorsed by MOE (Power Division)

e Other O&M 6.654

A- Power Purchase Price

Wits best regards

Chief xecutive Officer

Recoevery of Rs.1,748 Million (Annual/Interim Adjustment

Total 13,265 1,724

CPR No IT-20200930-01 01-1523131 Payment Date 30-Sep-2020

Details of Tax Payer